Plains All American Pipeline, L.P. (PAA) Position Raised by LPL Financial LLC

LPL Financial LLC boosted its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 0.5% during the third quarter, Holdings Channel reports. The institutional investor owned 73,585 shares of the company’s stock after buying an additional 384 shares during the period. LPL Financial LLC’s holdings in Plains All American Pipeline, L.P. were worth $2,256,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. MCF Advisors LLC boosted its stake in Plains All American Pipeline, L.P. by 2.4% in the second quarter. MCF Advisors LLC now owns 3,714 shares of the company’s stock worth $102,000 after buying an additional 87 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in Plains All American Pipeline, L.P. by 28.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 3,883 shares of the company’s stock worth $122,000 after buying an additional 862 shares in the last quarter. Cornerstone Advisors Inc. purchased a new stake in Plains All American Pipeline, L.P. during the third quarter worth approximately $126,000. Advisory Services Network LLC boosted its stake in Plains All American Pipeline, L.P. by 31.7% in the third quarter. Advisory Services Network LLC now owns 4,162 shares of the company’s stock worth $131,000 after buying an additional 1,002 shares in the last quarter. Finally, Penserra Capital Management LLC raised its position in shares of Plains All American Pipeline, L.P. by 158.4% in the third quarter. Penserra Capital Management LLC now owns 4,688 shares of the company’s stock worth $147,000 after buying an additional 2,874 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

Institutional Ownership by Quarter for Plains All American Pipeline, L.P. (NYSE:PAA)

Plains All American Pipeline, L.P. (NYSE:PAA) traded up 0.03% during mid-day trading on Friday, hitting $31.27. 2,745,024 shares of the stock traded hands. The company’s 50 day moving average price is $31.94 and its 200-day moving average price is $30.61. Plains All American Pipeline, L.P. has a 1-year low of $17.46 and a 1-year high of $33.95. The stock has a market cap of $20.64 billion, a price-to-earnings ratio of 72.72 and a beta of 0.87.

Plains All American Pipeline, L.P. (NYSE:PAA) last released its quarterly earnings data on Tuesday, February 7th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $6.42 billion. Plains All American Pipeline, L.P. had a net margin of 3.60% and a return on equity of 11.52%. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. Analysts predict that Plains All American Pipeline, L.P. will post $1.75 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, January 27th. This represents a $2.20 dividend on an annualized basis and a yield of 7.04%. Plains All American Pipeline, L.P.’s dividend payout ratio is currently 536.59%.

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A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Plains All American Pipeline, L.P. from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Wednesday, January 4th. RBC Capital Markets reaffirmed a “hold” rating and issued a $29.00 target price on shares of Plains All American Pipeline, L.P. in a research note on Friday, January 6th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $35.00 target price (up from $33.00) on shares of Plains All American Pipeline, L.P. in a research note on Sunday, December 4th. J P Morgan Chase & Co raised shares of Plains All American Pipeline, L.P. from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $29.00 to $37.00 in a research note on Friday, December 9th. Finally, Mizuho started coverage on shares of Plains All American Pipeline, L.P. in a research note on Monday, January 30th. They issued a “neutral” rating and a $34.00 target price for the company. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $31.53.

In other Plains All American Pipeline, L.P. news, EVP John Vonberg sold 6,675 shares of the firm’s stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $32.56, for a total transaction of $217,338.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

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. Its Transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

5 Day Chart for NYSE:PAA

Want to see what other hedge funds are holding PAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plains All American Pipeline, L.P. (NYSE:PAA).

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