Stephens Inc. AR Cuts Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Stephens Inc. AR reduced its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 15.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 93,538 shares of the pipeline company's stock after selling 17,197 shares during the period. Stephens Inc. AR's holdings in Plains All American Pipeline were worth $1,871,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Fortem Financial Group LLC lifted its stake in Plains All American Pipeline by 22.4% in the first quarter. Fortem Financial Group LLC now owns 81,154 shares of the pipeline company's stock worth $1,623,000 after purchasing an additional 14,876 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in Plains All American Pipeline by 32.1% in the first quarter. Stratos Wealth Partners LTD. now owns 28,283 shares of the pipeline company's stock worth $566,000 after purchasing an additional 6,874 shares during the last quarter. Fullcircle Wealth LLC bought a new stake in Plains All American Pipeline in the first quarter worth $287,000. U.S. Capital Wealth Advisors LLC lifted its stake in Plains All American Pipeline by 5.7% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 272,559 shares of the pipeline company's stock worth $5,451,000 after purchasing an additional 14,791 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Plains All American Pipeline by 21.7% in the first quarter. Envestnet Asset Management Inc. now owns 349,280 shares of the pipeline company's stock worth $6,986,000 after purchasing an additional 62,221 shares during the last quarter. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Stock Performance

PAA stock traded up $0.08 during midday trading on Thursday, reaching $18.75. 1,335,969 shares of the company's stock traded hands, compared to its average volume of 3,246,284. Plains All American Pipeline, L.P. has a 52-week low of $15.58 and a 52-week high of $21.00. The stock has a market cap of $13.19 billion, a P/E ratio of 25.68 and a beta of 0.68. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The stock's 50-day moving average is $17.69 and its 200 day moving average is $18.52.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. The firm's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share. As a group, analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.11%. Plains All American Pipeline's dividend payout ratio (DPR) is presently 163.44%.

Analysts Set New Price Targets

PAA has been the subject of several recent research reports. Wall Street Zen raised shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Citigroup decreased their price objective on shares of Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Mizuho set a $22.00 price objective on shares of Plains All American Pipeline and gave the company an "outperform" rating in a research report on Wednesday, June 18th. JPMorgan Chase & Co. boosted their price objective on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. Finally, Scotiabank decreased their price objective on shares of Plains All American Pipeline from $20.00 to $19.00 and set a "sector outperform" rating on the stock in a research report on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Plains All American Pipeline currently has an average rating of "Hold" and a consensus price target of $20.75.

About Plains All American Pipeline

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.