Shares of Plains All American Pipeline, L.P. (NYSE:PAA) reached a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $21.21 and last traded at $21.23, with a volume of 11,299,734 shares changing hands. The stock had previously closed at $25.20.

The pipeline company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.05. The business had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $5.50 billion. Plains All American Pipeline, L.P. had a net margin of 6.66% and a return on equity of 20.01%. The business’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.12) EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 8.73%. The ex-dividend date of this dividend is Thursday, July 27th. Plains All American Pipeline, L.P.’s dividend payout ratio is 239.13%.

A number of equities analysts recently weighed in on the stock. Guggenheim assumed coverage on shares of Plains All American Pipeline, L.P. in a report on Monday, April 17th. They issued a “neutral” rating and a $28.00 price target on the stock. UBS AG raised shares of Plains All American Pipeline, L.P. from a “market perform” rating to an “outperform” rating in a report on Monday, May 22nd. Deutsche Bank AG cut their price target on shares of Plains All American Pipeline, L.P. from $39.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, May 30th. Barclays PLC raised shares of Plains All American Pipeline, L.P. from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a report on Tuesday, July 18th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $30.00 price objective on shares of Plains All American Pipeline, L.P. in a report on Wednesday, July 19th. Fifteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $31.55.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. raised its stake in shares of Plains All American Pipeline, L.P. by 0.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 33,341,100 shares of the pipeline company’s stock valued at $875,871,000 after buying an additional 255,459 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of Plains All American Pipeline, L.P. by 4.9% in the second quarter. Alps Advisors Inc. now owns 30,612,374 shares of the pipeline company’s stock valued at $804,187,000 after buying an additional 1,416,441 shares in the last quarter. Morgan Stanley raised its stake in shares of Plains All American Pipeline, L.P. by 37.2% in the first quarter. Morgan Stanley now owns 14,058,014 shares of the pipeline company’s stock valued at $444,373,000 after buying an additional 3,808,889 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its stake in shares of Plains All American Pipeline, L.P. by 0.8% in the first quarter. Kayne Anderson Capital Advisors LP now owns 10,982,925 shares of the pipeline company’s stock valued at $347,165,000 after buying an additional 91,200 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of Plains All American Pipeline, L.P. by 12.5% in the first quarter. UBS Group AG now owns 9,370,040 shares of the pipeline company’s stock valued at $296,187,000 after buying an additional 1,038,051 shares in the last quarter. Institutional investors own 44.01% of the company’s stock.

The stock has a 50 day moving average of $25.75 and a 200 day moving average of $28.97. The stock has a market capitalization of $15.37 billion, a price-to-earnings ratio of 19.71 and a beta of 0.95.

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About Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

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