Royal Bank of Canada Boosts Stake in Plains All American Pipeline, L.P. $PAA

Royal Bank of Canada raised its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 553,505 shares of the pipeline company’s stock after acquiring an additional 17,463 shares during the period. Royal Bank of Canada owned approximately 0.08% of Plains All American Pipeline worth $11,070,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its position in Plains All American Pipeline by 1.7% in the fourth quarter. Captrust Financial Advisors now owns 65,280 shares of the pipeline company’s stock valued at $1,115,000 after acquiring an additional 1,060 shares in the last quarter. Nuveen Asset Management LLC grew its position in Plains All American Pipeline by 116.7% in the fourth quarter. Nuveen Asset Management LLC now owns 245,345 shares of the pipeline company’s stock valued at $4,190,000 after acquiring an additional 132,142 shares in the last quarter. Waverly Advisors LLC grew its position in Plains All American Pipeline by 2.5% in the fourth quarter. Waverly Advisors LLC now owns 51,565 shares of the pipeline company’s stock valued at $881,000 after acquiring an additional 1,237 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Plains All American Pipeline by 50.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 47,154 shares of the pipeline company’s stock valued at $805,000 after acquiring an additional 15,854 shares in the last quarter. Finally, Walnut Private Equity Partners LLC acquired a new stake in Plains All American Pipeline in the first quarter valued at approximately $10,500,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock opened at $17.35 on Friday. The company has a market cap of $12.20 billion, a PE ratio of 23.77 and a beta of 0.80. The company has a fifty day moving average price of $18.03 and a two-hundred day moving average price of $18.07. 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) last released its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The company’s quarterly revenue was down 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. Research analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date was Thursday, July 31st. Plains All American Pipeline’s dividend payout ratio is presently 172.73%.

Analyst Ratings Changes

Several research firms recently commented on PAA. Zacks Research upgraded Plains All American Pipeline to a “hold” rating in a research note on Monday, August 11th. Wall Street Zen upgraded Plains All American Pipeline from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Citigroup set a $18.00 price target on Plains All American Pipeline and gave the stock a “neutral” rating in a research note on Friday, August 8th. Barclays reiterated an “underweight” rating on shares of Plains All American Pipeline in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. set a $20.00 price target on Plains All American Pipeline in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.58.

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.