Crescent Grove Advisors LLC Buys New Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Crescent Grove Advisors LLC bought a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,838 shares of the pipeline company’s stock, valued at approximately $652,000.

Several other large investors have also recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D increased its stake in shares of Plains All American Pipeline, L.P. by 2.5% in the first quarter. State of New Jersey Common Pension Fund D now owns 381,800 shares of the pipeline company’s stock valued at $12,069,000 after buying an additional 9,300 shares in the last quarter. Rothschild Investment Corp IL increased its stake in shares of Plains All American Pipeline, L.P. by 3.1% in the second quarter. Rothschild Investment Corp IL now owns 99,975 shares of the pipeline company’s stock valued at $2,626,000 after buying an additional 3,050 shares in the last quarter. Bollard Group LLC increased its stake in shares of Plains All American Pipeline, L.P. by 2.0% in the second quarter. Bollard Group LLC now owns 333,220 shares of the pipeline company’s stock valued at $8,754,000 after buying an additional 6,461 shares in the last quarter. Verity & Verity LLC increased its stake in shares of Plains All American Pipeline, L.P. by 0.9% in the first quarter. Verity & Verity LLC now owns 36,742 shares of the pipeline company’s stock valued at $1,161,000 after buying an additional 310 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Plains All American Pipeline, L.P. by 8.2% in the first quarter. Stifel Financial Corp now owns 621,628 shares of the pipeline company’s stock valued at $19,646,000 after buying an additional 47,348 shares in the last quarter. 44.01% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline, L.P. (PAA) opened at 20.67 on Friday. The firm’s 50-day moving average is $25.58 and its 200-day moving average is $28.64. The stock has a market cap of $14.99 billion, a P/E ratio of 15.95 and a beta of 0.95. Plains All American Pipeline, L.P. has a 52-week low of $20.00 and a 52-week high of $33.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last released its earnings results on Monday, August 7th. The pipeline company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.05. Plains All American Pipeline, L.P. had a return on equity of 10.14% and a net margin of 4.42%. The firm had revenue of $6.08 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The firm’s quarterly revenue was up 22.8% on a year-over-year basis. Equities research analysts predict that Plains All American Pipeline, L.P. will post $1.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, July 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 10.64%. Plains All American Pipeline, L.P.’s payout ratio is 165.41%.

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Several equities research analysts have recently weighed in on PAA shares. Scotiabank set a $36.00 target price on shares of Plains All American Pipeline, L.P. and gave the company a “buy” rating in a research note on Saturday, July 22nd. Jefferies Group LLC downgraded shares of Plains All American Pipeline, L.P. from a “buy” rating to a “hold” rating and reduced their target price for the company from $28.00 to $27.00 in a research note on Friday, April 21st. Stifel Nicolaus reduced their target price on shares of Plains All American Pipeline, L.P. from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, May 10th. Howard Weil downgraded shares of Plains All American Pipeline, L.P. from a “sector outperform” rating to a “sector perform” rating in a research note on Tuesday. Finally, Barclays PLC reissued a “buy” rating and issued a $28.00 target price on shares of Plains All American Pipeline, L.P. in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $30.19.

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

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