Morningstar Investment Management LLC Sells 17,037 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Morningstar Investment Management LLC lowered its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 12.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 117,053 shares of the pipeline company’s stock after selling 17,037 shares during the quarter. Morningstar Investment Management LLC’s holdings in Plains All American Pipeline were worth $2,091,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. UBS Group AG boosted its position in Plains All American Pipeline by 89.3% during the fourth quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company’s stock valued at $129,630,000 after purchasing an additional 4,035,328 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Plains All American Pipeline by 114.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock worth $34,081,000 after buying an additional 1,020,277 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Plains All American Pipeline by 69.4% during the 1st quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company’s stock worth $32,044,000 after acquiring an additional 747,852 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in Plains All American Pipeline during the fourth quarter valued at approximately $6,112,000. Finally, Blackstone Inc. lifted its position in Plains All American Pipeline by 1.4% during the first quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company’s stock valued at $413,345,000 after acquiring an additional 318,944 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Up 0.9 %

Shares of PAA stock opened at $17.41 on Friday. Plains All American Pipeline, L.P. has a fifty-two week low of $14.25 and a fifty-two week high of $19.17. The firm has a market capitalization of $12.21 billion, a PE ratio of 11.58 and a beta of 1.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.90 and a current ratio of 1.00. The stock’s 50-day simple moving average is $17.91 and its 200-day simple moving average is $17.54.

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

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.3175 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.27 dividend on an annualized basis and a yield of 7.29%. Plains All American Pipeline’s dividend payout ratio is presently 109.48%.

Analyst Upgrades and Downgrades

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

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.