Plains All American Pipeline, L.P. (NYSE:PAA) is Kayne Anderson Capital Advisors LP's 8th Largest Position

Kayne Anderson Capital Advisors LP cut its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,297,382 shares of the pipeline company's stock after selling 195,068 shares during the period. Plains All American Pipeline makes up 4.4% of Kayne Anderson Capital Advisors LP's holdings, making the stock its 8th biggest holding. Kayne Anderson Capital Advisors LP owned 1.33% of Plains All American Pipeline worth $140,855,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PAA. Commonwealth Equity Services LLC boosted its holdings in Plains All American Pipeline by 5.4% during the third quarter. Commonwealth Equity Services LLC now owns 124,664 shares of the pipeline company's stock worth $1,910,000 after purchasing an additional 6,395 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Plains All American Pipeline by 36.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 21,408 shares of the pipeline company's stock valued at $328,000 after acquiring an additional 5,761 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Plains All American Pipeline by 1.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 346,717 shares of the pipeline company's stock worth $5,312,000 after acquiring an additional 3,483 shares during the period. Bank of New York Mellon Corp boosted its position in Plains All American Pipeline by 3.6% in the third quarter. Bank of New York Mellon Corp now owns 131,708 shares of the pipeline company's stock worth $2,018,000 after purchasing an additional 4,590 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Plains All American Pipeline by 11.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,772,559 shares of the pipeline company's stock valued at $180,356,000 after purchasing an additional 1,197,006 shares during the period. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock traded up $0.12 during midday trading on Thursday, reaching $17.78. 2,211,727 shares of the stock were exchanged, compared to its average volume of 3,433,967. The company's fifty day moving average is $17.47 and its 200-day moving average is $16.20. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. Plains All American Pipeline, L.P. has a 52 week low of $12.50 and a 52 week high of $19.03. The firm has a market cap of $12.47 billion, a PE ratio of 15.33 and a beta of 1.58.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. The company had revenue of $12 billion for the quarter, compared to the consensus estimate of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The firm's revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. On average, sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.32 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.14%. The ex-dividend date is Tuesday, April 30th. Plains All American Pipeline's dividend payout ratio (DPR) is 109.48%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PAA. Truist Financial boosted their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, March 19th. The Goldman Sachs Group lifted their price target on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the stock a "sell" rating in a report on Friday, April 12th. Citigroup increased their price objective on Plains All American Pipeline from $17.50 to $18.00 and gave the company a "neutral" rating in a report on Monday. Scotiabank initiated coverage on Plains All American Pipeline in a research note on Monday, April 8th. They issued a "sector outperform" rating and a $23.00 target price on the stock. Finally, Stifel Nicolaus increased their price target on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Plains All American Pipeline has a consensus rating of "Moderate Buy" and a consensus price target of $19.15.

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.