Plains All American Pipeline, L.P. $PAA Holdings Lifted by Summit Securities Group LLC

Key Points

• Summit Securities Group LLC increased its position in Plains All American Pipeline by 359.1%, with holdings now valued at approximately $854,000.
• Wells Fargo & Company downgraded Plains All American Pipeline from an "overweight" to an "equal weight" rating, contributing to the stock's mixed analyst ratings.
• Plains All American Pipeline declared a quarterly dividend of $0.38 per share, translating to an annual yield of 8.7% with a high dividend payout ratio of 172.73%.

Summit Securities Group LLC grew its stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 359.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,700 shares of the pipeline company's stock after acquiring an additional 33,400 shares during the quarter. Summit Securities Group LLC's holdings in Plains All American Pipeline were worth $854,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its holdings in Plains All American Pipeline by 107.0% in the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock valued at $26,000 after acquiring an additional 657 shares during the last quarter. Capital Advisory Group Advisory Services LLC boosted its holdings in Plains All American Pipeline by 2.5% in the 1st quarter. Capital Advisory Group Advisory Services LLC now owns 28,450 shares of the pipeline company's stock worth $569,000 after acquiring an additional 685 shares during the period. Prossimo Advisors LLC grew its position in Plains All American Pipeline by 6.6% in the first quarter. Prossimo Advisors LLC now owns 12,343 shares of the pipeline company's stock valued at $247,000 after acquiring an additional 764 shares in the last quarter. Financial Sense Advisors Inc. grew its position in Plains All American Pipeline by 4.8% in the first quarter. Financial Sense Advisors Inc. now owns 16,793 shares of the pipeline company's stock valued at $336,000 after acquiring an additional 766 shares in the last quarter. Finally, Clarus Group Inc. raised its stake in shares of Plains All American Pipeline by 0.9% during the first quarter. Clarus Group Inc. now owns 92,330 shares of the pipeline company's stock valued at $1,847,000 after purchasing an additional 803 shares during the period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PAA shares. Zacks Research upgraded shares of Plains All American Pipeline to a "hold" rating in a research note on Monday, August 11th. Citigroup set a $18.00 price objective on shares of Plains All American Pipeline and gave the company a "neutral" rating in a research report on Friday, August 8th. Wall Street Zen upgraded Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Wells Fargo & Company lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research report on Friday, May 9th. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Plains All American Pipeline in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Plains All American Pipeline currently has an average rating of "Hold" and a consensus price target of $20.67.

Plains All American Pipeline Stock Performance

NYSE PAA traded up $0.05 during trading hours on Wednesday, reaching $17.55. The company's stock had a trading volume of 3,253,865 shares, compared to its average volume of 3,582,370. 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 business has a 50-day simple moving average of $18.25 and a 200 day simple moving average of $18.35. Plains All American Pipeline, L.P. has a 52 week low of $15.57 and a 52 week high of $21.00. The stock has a market cap of $12.34 billion, a PE ratio of 24.04 and a beta of 0.73.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the business posted $0.31 EPS. Equities research analysts predict that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.7%. The ex-dividend date was Thursday, July 31st. Plains All American Pipeline's dividend payout ratio (DPR) is presently 172.73%.

Plains All American Pipeline 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.