Steel Grove Capital Advisors LLC Decreases Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Steel Grove Capital Advisors LLC trimmed its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,858 shares of the pipeline company’s stock after selling 1,322 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Plains All American Pipeline were worth $783,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Sei Investments Co. increased its stake in Plains All American Pipeline by 39.9% in the 2nd quarter. Sei Investments Co. now owns 207,802 shares of the pipeline company’s stock worth $3,711,000 after purchasing an additional 59,293 shares during the period. Bridges Investment Management Inc. grew its position in shares of Plains All American Pipeline by 75.9% in the 2nd quarter. Bridges Investment Management Inc. now owns 136,937 shares of the pipeline company’s stock worth $2,446,000 after buying an additional 59,076 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Plains All American Pipeline in the 2nd quarter worth approximately $818,000. Brown Brothers Harriman & Co. grew its position in shares of Plains All American Pipeline by 31.2% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock worth $80,000 after buying an additional 1,060 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Plains All American Pipeline by 2.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 312,593 shares of the pipeline company’s stock worth $5,583,000 after buying an additional 7,452 shares during the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Down 0.7 %

Shares of NYSE:PAA opened at $17.75 on Monday. The stock has a fifty day simple moving average of $17.82 and a two-hundred day simple moving average of $17.61. The stock has a market capitalization of $12.44 billion, a price-to-earnings ratio of 15.30 and a beta of 1.60. Plains All American Pipeline, L.P. has a 12-month low of $14.25 and a 12-month high of $19.17. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. The business had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $12.32 billion. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share. On average, research analysts anticipate that Plains All American Pipeline, L.P. will post 1.3 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.15%. The ex-dividend date of this dividend was Wednesday, July 31st. Plains All American Pipeline’s dividend payout ratio is currently 109.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. UBS Group lifted their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.64.

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.