Plains All American Pipeline, L.P. $PAA Shares Sold by Kayne Anderson Capital Advisors LP

by · The Cerbat Gem

Kayne Anderson Capital Advisors LP decreased its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA – Free Report) by 7.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,119,534 shares of the pipeline company’s stock after selling 402,005 shares during the quarter. Plains All American Pipeline comprises approximately 2.2% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 15th biggest holding. Kayne Anderson Capital Advisors LP’s holdings in Plains All American Pipeline were worth $93,790,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Corps Capital Advisors LLC lifted its position in Plains All American Pipeline by 7.1% in the second quarter. Corps Capital Advisors LLC now owns 52,468 shares of the pipeline company’s stock valued at $961,000 after buying an additional 3,497 shares during the last quarter. Fullcircle Wealth LLC lifted its position in Plains All American Pipeline by 69.5% in the second quarter. Fullcircle Wealth LLC now owns 26,546 shares of the pipeline company’s stock valued at $476,000 after buying an additional 10,881 shares during the last quarter. Arkadios Wealth Advisors lifted its position in Plains All American Pipeline by 14.5% in the second quarter. Arkadios Wealth Advisors now owns 28,918 shares of the pipeline company’s stock valued at $530,000 after buying an additional 3,670 shares during the last quarter. ELCO Management Co. LLC lifted its position in Plains All American Pipeline by 1.3% in the second quarter. ELCO Management Co. LLC now owns 178,065 shares of the pipeline company’s stock valued at $3,262,000 after buying an additional 2,252 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Plains All American Pipeline by 4.1% during the second quarter. Envestnet Asset Management Inc. now owns 363,557 shares of the pipeline company’s stock worth $6,660,000 after purchasing an additional 14,277 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PAA. Wolfe Research reiterated a “peer perform” rating on shares of Plains All American Pipeline in a research note on Friday, July 25th. Zacks Research upgraded shares of Plains All American Pipeline to a “hold” rating in a research note on Monday, August 11th. JPMorgan Chase & Co. cut their target price on shares of Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 18th. Citigroup set a $18.00 target price on shares of Plains All American Pipeline and gave the stock a “neutral” rating in a research note on Friday, August 8th. Finally, Morgan Stanley cut their target price on shares of Plains All American Pipeline from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.55.

Check Out Our Latest Stock Analysis on Plains All American Pipeline

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock opened at $16.36 on Thursday. The firm has a market capitalization of $11.51 billion, a P/E ratio of 22.41 and a beta of 0.74. Plains All American Pipeline, L.P. has a 52 week low of $15.57 and a 52 week high of $21.00. The firm’s 50 day moving average is $16.94 and its two-hundred day moving average is $17.47. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA – Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.Plains All American Pipeline’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 earnings per share. Research analysts forecast that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 9.3%. The ex-dividend date of this dividend is Friday, October 31st. Plains All American Pipeline’s payout ratio is currently 172.73%.

Plains All American Pipeline Company Profile

(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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