Kayne Anderson Capital Advisors LP Lowers Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Kayne Anderson Capital Advisors LP trimmed its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 11.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,538,106 shares of the pipeline company's stock after selling 1,003,436 shares during the period. Plains All American Pipeline makes up 3.3% of Kayne Anderson Capital Advisors LP's investment portfolio, making the stock its 13th largest holding. Kayne Anderson Capital Advisors LP owned about 1.08% of Plains All American Pipeline worth $130,937,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Plains All American Pipeline in the first quarter worth approximately $201,000. Sei Investments Co. bought a new stake in Plains All American Pipeline during the 1st quarter valued at $2,608,000. Acadian Asset Management LLC raised its holdings in Plains All American Pipeline by 358.1% during the first quarter. Acadian Asset Management LLC now owns 888,139 shares of the pipeline company's stock worth $15,591,000 after buying an additional 694,279 shares during the last quarter. Rockport Wealth LLC acquired a new position in shares of Plains All American Pipeline during the first quarter valued at about $301,000. Finally, Evermay Wealth Management LLC bought a new stake in shares of Plains All American Pipeline during the first quarter worth about $35,000. Institutional investors own 41.78% of the company's stock.

Plains All American Pipeline Stock Performance

Shares of PAA traded up $0.29 during trading hours on Monday, hitting $17.47. The company's stock had a trading volume of 3,608,895 shares, compared to its average volume of 2,775,742. The company has a market cap of $12.25 billion, a price-to-earnings ratio of 15.60 and a beta of 1.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.90. The business has a 50 day simple moving average of $17.34 and a two-hundred day simple moving average of $17.53. Plains All American Pipeline, L.P. has a 52-week low of $14.46 and a 52-week high of $19.17.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same period last year, the company earned $0.35 earnings per share. The business's revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts expect that Plains All American Pipeline, L.P. will post 1.29 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 7.27%. The ex-dividend date was Thursday, October 31st. Plains All American Pipeline's payout ratio is 113.39%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. 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 research report on Friday. Morgan Stanley cut shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Bank of America assumed coverage on Plains All American Pipeline in a report on Thursday, October 17th. They set a "neutral" rating and a $18.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $19.82.

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.