Plains All American Pipeline, L.P. (PAA) Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc reduced its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,118 shares of the company’s stock after selling 500 shares during the period. Prospera Financial Services Inc’s holdings in Plains All American Pipeline, L.P. were worth $952,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PAA. First Manhattan Co. raised its position in Plains All American Pipeline, L.P. by 49.5% in the third quarter. First Manhattan Co. now owns 18,373 shares of the company’s stock valued at $577,000 after buying an additional 6,085 shares during the period. Coastline Trust Co raised its position in Plains All American Pipeline, L.P. by 7.3% in the third quarter. Coastline Trust Co now owns 13,430 shares of the company’s stock valued at $422,000 after buying an additional 910 shares during the period. Private Capital Advisors Inc. raised its position in Plains All American Pipeline, L.P. by 0.5% in the third quarter. Private Capital Advisors Inc. now owns 109,038 shares of the company’s stock valued at $3,425,000 after buying an additional 540 shares during the period. Cornerstone Advisors Inc. acquired a new position in Plains All American Pipeline, L.P. during the third quarter valued at approximately $126,000. Finally, State of New Jersey Common Pension Fund D raised its position in Plains All American Pipeline, L.P. by 157.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 199,311 shares of the company’s stock valued at $6,260,000 after buying an additional 122,011 shares during the period. 68.61% of the stock is owned by institutional investors.

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

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) traded down 0.74% during mid-day trading on Thursday, hitting $30.72. 897,125 shares of the stock were exchanged. The company’s 50-day moving average is $31.45 and its 200-day moving average is $31.54. The firm has a market cap of $20.74 billion, a price-to-earnings ratio of 71.44 and a beta of 0.87. Plains All American Pipeline, L.P. has a 1-year low of $20.53 and a 1-year high of $33.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last released its earnings results on Tuesday, February 7th. The company reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.10. The company had revenue of $5.95 billion for the quarter, compared to analyst estimates 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%. Plains All American Pipeline, L.P.’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 earnings per share. Equities research analysts anticipate that Plains All American Pipeline, L.P. will post $1.61 earnings per share for the current fiscal year.

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Several research analysts have recently commented 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 price target for the company in a report on Wednesday, January 4th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $29.00 price target on shares of Plains All American Pipeline, L.P. in a report on Friday, January 6th. Mizuho assumed coverage on shares of Plains All American Pipeline, L.P. in a report on Monday, January 30th. They issued a “neutral” rating and a $34.00 price target for the company. Barclays PLC reaffirmed an “equal weight” rating and issued a $31.00 price target on shares of Plains All American Pipeline, L.P. in a report on Thursday, March 30th. Finally, Stifel Nicolaus lifted their price target on shares of Plains All American Pipeline, L.P. to $32.00 in a report on Thursday, February 9th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $32.51.

Plains All American Pipeline, L.P. Company Profile

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.

5 Day Chart for NYSE:PAA

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