Plains All American Pipeline Lp $PAA Shares Sold by Infrastructure Capital Advisors LLC

Key Points

• Infrastructure Capital Advisors LLC reduced its Plains All American Pipeline stake by 9.0% in the fourth quarter, selling 294,085 shares and leaving it with 2,959,828 shares worth about $53.2 million.
• Analysts remain mixed on PAA: recent target hikes from Morgan Stanley and Scotiabank were offset by a downgrade from US Capital Advisors, and the stock’s consensus rating is currently Hold with an average price target of $22.93.
• Plains All American Pipeline reported Q1 earnings of $0.39 per share, missing estimates by $0.02, while revenue rose 8.7% year over year to $12.47 billion; the company also paid a quarterly dividend of $0.4175, implying a 7.7% yield.

Infrastructure Capital Advisors LLC cut its position in shares of Plains All American Pipeline Lp (NASDAQ:PAA - Free Report) by 9.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,959,828 shares of the company's stock after selling 294,085 shares during the quarter. Plains All American Pipeline comprises 5.1% of Infrastructure Capital Advisors LLC's portfolio, making the stock its 5th biggest position. Infrastructure Capital Advisors LLC owned about 0.42% of Plains All American Pipeline worth $53,159,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. increased its stake in Plains All American Pipeline by 40.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company's stock worth $41,000 after acquiring an additional 655 shares during the last quarter. Aventura Private Wealth LLC acquired a new stake in shares of Plains All American Pipeline in the fourth quarter valued at about $42,000. Fulcrum Asset Management LLP acquired a new stake in shares of Plains All American Pipeline in the third quarter valued at about $50,000. Fifth Third Bancorp grew its stake in shares of Plains All American Pipeline by 257.3% in the third quarter. Fifth Third Bancorp now owns 4,256 shares of the company's stock valued at $73,000 after buying an additional 3,065 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Plains All American Pipeline by 342.7% in the fourth quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company's stock valued at $73,000 after buying an additional 3,149 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PAA. Morgan Stanley increased their target price on Plains All American Pipeline from $23.00 to $25.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 20th. Scotiabank increased their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the company an "outperform" rating in a research note on Tuesday, May 12th. Weiss Ratings reiterated a "buy (b)" rating on shares of Plains All American Pipeline in a research note on Friday, April 17th. UBS Group reiterated a "buy" rating on shares of Plains All American Pipeline in a research note on Tuesday. Finally, US Capital Advisors lowered Plains All American Pipeline from a "strong-buy" rating to a "moderate buy" rating in a research note on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $22.93.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $21.58 on Thursday. The stock has a market capitalization of $15.23 billion, a P/E ratio of 16.47, a P/E/G ratio of 10.00 and a beta of 0.50. Plains All American Pipeline Lp has a one year low of $15.69 and a one year high of $24.26. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88. The company has a 50-day simple moving average of $22.34.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). The business had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The business's revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 earnings per share. As a group, equities research analysts forecast that Plains All American Pipeline Lp will post 1.56 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.4175 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.67 dividend on an annualized basis and a yield of 7.7%. Plains All American Pipeline's dividend payout ratio is currently 127.48%.

Plains All American Pipeline Profile

Plains All American Pipeline NASDAQ: PAA is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.

Want to see what other hedge funds are holding PAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plains All American Pipeline Lp (NASDAQ:PAA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.