Sanders Morris Harris LLC Decreases Position in Plains All American Pipeline, L.P. (PAA)

Sanders Morris Harris LLC reduced its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 10.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,245 shares of the pipeline company’s stock after selling 1,500 shares during the period. Sanders Morris Harris LLC’s holdings in Plains All American Pipeline were worth $300,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. increased its position in shares of Plains All American Pipeline by 21.2% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 36,218,579 shares of the pipeline company’s stock worth $905,827,000 after acquiring an additional 6,343,995 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Plains All American Pipeline by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 236,127 shares of the pipeline company’s stock worth $5,904,000 after acquiring an additional 8,521 shares in the last quarter. BlackRock Inc. increased its position in shares of Plains All American Pipeline by 7.4% during the third quarter. BlackRock Inc. now owns 2,849,598 shares of the pipeline company’s stock worth $71,268,000 after acquiring an additional 195,398 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Plains All American Pipeline by 23.5% during the third quarter. Brown Brothers Harriman & Co. now owns 14,740 shares of the pipeline company’s stock worth $369,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Plains All American Pipeline by 359.9% during the third quarter. Captrust Financial Advisors now owns 24,011 shares of the pipeline company’s stock worth $601,000 after acquiring an additional 18,790 shares in the last quarter. 47.93% of the stock is currently owned by hedge funds and other institutional investors.

PAA traded up $0.65 during trading hours on Friday, hitting $24.10. 1,725,737 shares of the company’s stock were exchanged, compared to its average volume of 1,331,033. The stock has a market capitalization of $17.04 billion, a price-to-earnings ratio of 12.82 and a beta of 1.06. The company has a current ratio of 1.02, a quick ratio of 0.84 and a debt-to-equity ratio of 0.94. Plains All American Pipeline, L.P. has a 1-year low of $19.33 and a 1-year high of $27.70.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Tuesday, May 7th. The pipeline company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The firm had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.77 billion. Plains All American Pipeline had a net margin of 8.51% and a return on equity of 21.48%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 earnings per share. As a group, research analysts predict that Plains All American Pipeline, L.P. will post 1.99 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend is Tuesday, April 30th. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.30. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 76.60%.

PAA has been the subject of several research reports. Evercore ISI initiated coverage on shares of Plains All American Pipeline in a research report on Tuesday, February 5th. They set a $24.00 price objective for the company. Tudor Pickering raised shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a research report on Wednesday, February 6th. Finally, ValuEngine downgraded shares of Plains All American Pipeline from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $28.29.

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Plains All American Pipeline Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

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Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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