Texas Yale Capital Corp. Buys 78,650 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Key Points

• Texas Yale Capital Corp. increased its stake in Plains All American Pipeline by 15.6% in Q1, owning 581,263 shares valued at approximately $11.63 million.
• Plains All American Pipeline recently reported an earnings miss, with $0.39 EPS for the quarter, falling short of analyst expectations of $0.45 EPS.
• The company announced a quarterly dividend of $0.38, yielding 8.14%, with an annualized payout ratio of 163.44%.

Texas Yale Capital Corp. raised its stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 15.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 581,263 shares of the pipeline company's stock after buying an additional 78,650 shares during the period. Texas Yale Capital Corp. owned 0.08% of Plains All American Pipeline worth $11,625,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. boosted its stake in shares of Plains All American Pipeline by 4.6% during the fourth quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company's stock valued at $475,301,000 after purchasing an additional 1,224,381 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Plains All American Pipeline by 8.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company's stock valued at $261,283,000 after purchasing an additional 1,211,286 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Plains All American Pipeline by 0.6% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 13,321,966 shares of the pipeline company's stock valued at $227,539,000 after purchasing an additional 75,509 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Plains All American Pipeline by 8.7% during the fourth quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company's stock valued at $134,107,000 after purchasing an additional 630,141 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Plains All American Pipeline by 30.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company's stock valued at $92,470,000 after purchasing an additional 1,162,933 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PAA. Wall Street Zen raised Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Mizuho set a $22.00 target price on shares of Plains All American Pipeline and gave the stock an "outperform" rating in a research note on Wednesday, June 18th. Raymond James Financial reissued a "strong-buy" rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. Wolfe Research reissued a "peer perform" rating on shares of Plains All American Pipeline in a research note on Friday. Finally, Barclays reissued an "underweight" rating and set a $18.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $20.75.

Plains All American Pipeline Trading Down 1.2%

NYSE PAA traded down $0.22 during trading on Monday, hitting $18.46. 3,942,372 shares of the company's stock traded hands, compared to its average volume of 3,645,783. The firm has a market cap of $12.98 billion, a P/E ratio of 25.29 and a beta of 0.68. The stock has a fifty day moving average of $17.91 and a two-hundred day moving average of $18.59. 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, L.P. has a 12-month low of $15.57 and a 12-month high of $21.00.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its earnings results on Friday, May 9th. The pipeline company reported $0.39 EPS for the quarter, missing the consensus estimate 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%. During the same quarter in the previous year, the company earned $0.41 earnings per share. Plains All American Pipeline's revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given 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 8.23%. Plains All American Pipeline's dividend payout ratio is currently 163.44%.

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.