HITE Hedge Asset Management LLC acquired a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 107,730 shares of the pipeline company’s stock, valued at approximately $2,640,000. Plains All American Pipeline accounts for approximately 0.4% of HITE Hedge Asset Management LLC’s holdings, making the stock its 28th largest position.

Other large investors have also bought and sold shares of the company. Capital Investment Advisory Services LLC purchased a new stake in Plains All American Pipeline during the fourth quarter valued at about $28,000. Executive Wealth Management LLC purchased a new stake in Plains All American Pipeline during the fourth quarter valued at about $28,000. Portfolio Solutions LLC purchased a new stake in Plains All American Pipeline during the fourth quarter valued at about $36,000. Zions Bancorporation N.A. purchased a new stake in Plains All American Pipeline during the first quarter valued at about $48,000. Finally, Enterprise Financial Services Corp raised its position in Plains All American Pipeline by 71.5% during the first quarter. Enterprise Financial Services Corp now owns 2,039 shares of the pipeline company’s stock valued at $50,000 after purchasing an additional 850 shares in the last quarter. 48.43% of the stock is owned by institutional investors.

NYSE PAA traded down $0.22 during trading hours on Wednesday, reaching $23.40. 54,001 shares of the stock traded hands, compared to its average volume of 2,185,497. Plains All American Pipeline, L.P. has a 1 year low of $19.33 and a 1 year high of $27.70. The company has a quick ratio of 0.90, a current ratio of 1.02 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $17.08 billion, a price-to-earnings ratio of 12.55 and a beta of 0.99.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Tuesday, May 7th. The pipeline company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.10. The company had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.77 billion. Plains All American Pipeline had a return on equity of 20.70% and a net margin of 8.51%. Plains All American Pipeline’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. On average, equities analysts expect that Plains All American Pipeline, L.P. will post 2.12 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a $0.36 dividend. The ex-dividend date was Tuesday, April 30th. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.30. This represents a $1.44 annualized dividend and a dividend yield of 6.15%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 76.60%.

Separately, ValuEngine downgraded 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 assigned a buy rating to the stock. Plains All American Pipeline has a consensus rating of “Buy” and an average target price of $28.29.

In related news, insider Emg Investment, Llc sold 8,179,284 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $23.10, for a total value of $188,941,460.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

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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.

Further Reading: How is Preferred Stock Different from Common Stock?

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

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