Russell Investments Group Ltd. Sells 186,561 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Russell Investments Group Ltd. reduced its stake in Plains All American Pipeline, L.P. (NYSE:PAA – Get Rating) by 53.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 160,688 shares of the pipeline company’s stock after selling 186,561 shares during the quarter. Russell Investments Group Ltd.’s holdings in Plains All American Pipeline were worth $1,890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Eclectic Associates Inc. ADV raised its position in shares of Plains All American Pipeline by 7.6% in the 4th quarter. Eclectic Associates Inc. ADV now owns 12,101 shares of the pipeline company’s stock valued at $142,000 after purchasing an additional 855 shares during the last quarter. IFP Advisors Inc raised its position in shares of Plains All American Pipeline by 12.9% in the 4th quarter. IFP Advisors Inc now owns 7,503 shares of the pipeline company’s stock valued at $178,000 after purchasing an additional 857 shares during the last quarter. Apollon Wealth Management LLC raised its position in Plains All American Pipeline by 3.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 29,145 shares of the pipeline company’s stock worth $307,000 after buying an additional 1,000 shares during the last quarter. Islay Capital Management LLC raised its position in Plains All American Pipeline by 6.5% during the 4th quarter. Islay Capital Management LLC now owns 16,300 shares of the pipeline company’s stock worth $192,000 after buying an additional 1,000 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in Plains All American Pipeline by 6.7% during the 3rd quarter. D.A. Davidson & CO. now owns 16,115 shares of the pipeline company’s stock worth $170,000 after buying an additional 1,011 shares during the last quarter. 42.26% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $13.59 on Tuesday. The company’s fifty day moving average price is $12.70 and its 200 day moving average price is $12.46. Plains All American Pipeline, L.P. has a 1 year low of $9.10 and a 1 year high of $13.70. The stock has a market capitalization of $9.49 billion, a P/E ratio of 8.94 and a beta of 1.70. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 0.95.

Plains All American Pipeline (NYSE:PAA – Get Rating) last posted its quarterly earnings data on Friday, May 5th. The pipeline company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.36 by $0.05. Plains All American Pipeline had a return on equity of 10.39% and a net margin of 2.18%. The firm had revenue of $12.34 billion during the quarter, compared to the consensus estimate of $14.43 billion. During the same period in the prior year, the company earned $0.31 EPS. The firm’s revenue was down 9.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.21 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 1st were paid a dividend of $0.2675 per share. The ex-dividend date of this dividend was Friday, April 28th. This represents a $1.07 annualized dividend and a yield of 7.87%. Plains All American Pipeline’s dividend payout ratio is presently 70.39%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Sanford C. Bernstein lowered shares of Plains All American Pipeline from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $15.00 to $14.50 in a research report on Tuesday, February 7th. Royal Bank of Canada raised their price target on shares of Plains All American Pipeline from $13.00 to $14.00 and gave the stock a “sector perform” rating in a research report on Friday, March 24th. Raymond James raised shares of Plains All American Pipeline from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $16.00 to $17.00 in a research report on Thursday, April 20th. JPMorgan Chase & Co. raised their price target on shares of Plains All American Pipeline from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, March 9th. Finally, Morgan Stanley lifted their target price on shares of Plains All American Pipeline from $16.00 to $17.00 in a report on Tuesday, April 25th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.68.

Plains All American Pipeline Company Profile

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Plains All American Pipeline LP engages in the operation of midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids, and natural gas. It operates through the Crude Oil and Natural Gas Liquids (NGL) segments. The Crude Oil segment refers to the pipeline transportation, terminalling, storage, and gathering assets.