Royal Bank of Canada Buys 17,463 Shares of Plains All American Pipeline, L.P. $PAA

Key Points

• Royal Bank of Canada increased its stake in Plains All American Pipeline by 3.3%, owning approximately 553,505 shares worth $11.07 million as of the latest filing.
• Plains All American Pipeline recently declared a quarterly dividend of $0.38 per share, representing an annualized yield of 8.8% and a payout ratio of 172.73%.
• The company's stock has experienced a year-to-date performance fluctuation, with a 12-month low of $15.57 and a high of $21.00, currently trading around $17.35.

Royal Bank of Canada lifted its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 3.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 553,505 shares of the pipeline company's stock after purchasing an additional 17,463 shares during the quarter. Royal Bank of Canada owned about 0.08% of Plains All American Pipeline worth $11,070,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PAA. Farther Finance Advisors LLC increased its holdings in shares of Plains All American Pipeline by 107.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock worth $26,000 after buying an additional 657 shares during the last quarter. North Capital Inc. acquired a new stake in Plains All American Pipeline in the first quarter valued at $61,000. National Bank of Canada FI raised its holdings in Plains All American Pipeline by 99.4% in the first quarter. National Bank of Canada FI now owns 3,210 shares of the pipeline company's stock valued at $64,000 after acquiring an additional 1,600 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in Plains All American Pipeline in the first quarter valued at $68,000. Finally, Tortoise Investment Management LLC acquired a new position in Plains All American Pipeline in the first quarter worth $70,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PAA has been the topic of several analyst reports. Wall Street Zen raised Plains All American Pipeline from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Citigroup set a $18.00 price objective on Plains All American Pipeline and gave the company a "neutral" rating in a research report on Friday, August 8th. Zacks Research raised shares of Plains All American Pipeline to a "hold" rating in a research note on Monday, August 11th. JPMorgan Chase & Co. set a $20.00 price objective on shares of Plains All American Pipeline in a research report on Friday, August 8th. Finally, UBS Group set a $25.00 target price on shares of Plains All American Pipeline and gave the stock a "buy" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $20.58.

Plains All American Pipeline Stock Performance

PAA stock traded up $0.05 on Wednesday, reaching $17.41. 1,738,277 shares of the company were exchanged, compared to its average volume of 3,472,696. Plains All American Pipeline, L.P. has a 12 month low of $15.57 and a 12 month high of $21.00. The stock's fifty day moving average price is $17.94 and its 200 day moving average price is $18.00. The firm has a market capitalization of $12.24 billion, a PE ratio of 23.85 and a beta of 0.80. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its earnings results on Friday, August 8th. The pipeline company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.Plains All American Pipeline's revenue was down 16.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 earnings per share. On average, research analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.52 annualized dividend and a dividend yield of 8.7%. Plains All American Pipeline's payout ratio is 172.73%.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.