Brown Advisory Inc. Reduces Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Brown Advisory Inc. cut its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAAFree Report) by 38.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,337 shares of the pipeline company’s stock after selling 20,900 shares during the quarter. Brown Advisory Inc.’s holdings in Plains All American Pipeline were worth $667,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in Plains All American Pipeline by 107.0% during the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 657 shares during the period. National Bank of Canada FI acquired a new position in Plains All American Pipeline during the fourth quarter valued at $27,000. Jones Financial Companies Lllp lifted its position in Plains All American Pipeline by 1,684.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock valued at $61,000 after purchasing an additional 3,368 shares during the period. North Capital Inc. acquired a new position in Plains All American Pipeline during the first quarter valued at $61,000. Finally, Creative Financial Designs Inc. ADV acquired a new position in Plains All American Pipeline during the first quarter valued at $68,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Down 0.8%

PAA opened at $18.73 on Tuesday. Plains All American Pipeline, L.P. has a twelve month low of $15.58 and a twelve month high of $21.00. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average price of $17.60 and a 200 day moving average price of $18.52. The company has a market cap of $13.17 billion, a PE ratio of 25.66 and a beta of 0.68.

Plains All American Pipeline (NYSE:PAAGet Free Report) last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share 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 last year, the company posted $0.41 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. Sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.52 annualized dividend and a dividend yield of 8.12%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 163.44%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating in a research report on Friday, May 9th. Scotiabank decreased their target price on shares of Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating for the company in a research report on Thursday, June 5th. Raymond James Financial restated a “strong-buy” rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $20.00 price objective on shares of Plains All American Pipeline in a research report on Friday, May 16th. Finally, Citigroup decreased their price objective on shares of Plains All American Pipeline from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.36.

Get Our Latest Stock Analysis on PAA

About Plains All American Pipeline

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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