Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC reduced its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 23.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,712 shares of the pipeline company’s stock after selling 59,017 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Plains All American Pipeline were worth $3,442,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PAA. Eagle Bay Advisors LLC purchased a new position in Plains All American Pipeline in the first quarter valued at approximately $26,000. Future Financial Wealth Managment LLC purchased a new position in shares of Plains All American Pipeline in the 1st quarter valued at $28,000. ORG Partners LLC lifted its holdings in shares of Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 730 shares in the last quarter. Evermay Wealth Management LLC purchased a new stake in Plains All American Pipeline during the 1st quarter worth $35,000. Finally, Scarborough Advisors LLC acquired a new stake in Plains All American Pipeline in the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $17.49 on Monday. The firm has a market cap of $12.26 billion, a price-to-earnings ratio of 15.08 and a beta of 1.60. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $17.71 and its two-hundred day moving average is $17.64. Plains All American Pipeline, L.P. has a 52-week low of $14.25 and a 52-week high of $19.17.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The firm had revenue of $12.93 billion for the quarter, compared to analysts’ expectations of $12.32 billion. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. Analysts forecast that Plains All American Pipeline, L.P. will post 1.3 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a $0.3175 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.27 dividend on an annualized basis and a yield of 7.26%. Plains All American Pipeline’s dividend payout ratio (DPR) is 109.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PAA. UBS Group boosted their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Morgan Stanley boosted their price target 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Plains All American Pipeline has a consensus rating of “Moderate Buy” and a consensus target price of $20.10.

Plains All American Pipeline Company 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.