Custom Index Systems LLC Sells 12,394 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Custom Index Systems LLC reduced its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 13.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 80,853 shares of the pipeline company’s stock after selling 12,394 shares during the quarter. Custom Index Systems LLC’s holdings in Plains All American Pipeline were worth $1,444,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in Plains All American Pipeline by 1,415.0% during the fourth quarter. International Assets Investment Management LLC now owns 56,434 shares of the pipeline company’s stock valued at $855,000 after acquiring an additional 52,709 shares during the period. Fisher Asset Management LLC bought a new stake in Plains All American Pipeline during the 4th quarter valued at approximately $165,000. Spire Wealth Management boosted its stake in Plains All American Pipeline by 9.6% during the 4th quarter. Spire Wealth Management now owns 18,082 shares of the pipeline company’s stock valued at $282,000 after purchasing an additional 1,586 shares during the period. Private Advisor Group LLC grew its holdings in Plains All American Pipeline by 1.8% in the 4th quarter. Private Advisor Group LLC now owns 105,916 shares of the pipeline company’s stock valued at $1,605,000 after buying an additional 1,895 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in Plains All American Pipeline in the 4th quarter worth approximately $138,000. Institutional investors own 41.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price objective on Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a report on Wednesday. Finally, UBS Group raised their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.64.

Plains All American Pipeline Price Performance

Shares of Plains All American Pipeline stock opened at $17.37 on Friday. Plains All American Pipeline, L.P. has a twelve month low of $14.25 and a twelve month high of $19.17. 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 firm has a market cap of $12.18 billion, a P/E ratio of 14.97 and a beta of 1.60. The firm’s 50-day simple moving average is $18.01 and its 200-day simple moving average is $17.52.

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

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.3175 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.27 annualized dividend and a yield of 7.31%. Plains All American Pipeline’s dividend payout ratio is currently 109.48%.

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.