Plains All American Pipeline, L.P. (PAA) Stake Held by United Fire Group Inc.

United Fire Group Inc. maintained its position in Plains All American Pipeline, L.P. (NYSE:PAA) during the second quarter, Holdings Channel reports. The firm owned 6,000 shares of the pipeline company’s stock at the end of the second quarter. United Fire Group Inc.’s holdings in Plains All American Pipeline, L.P. were worth $158,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Comerica Bank increased its position in shares of Plains All American Pipeline, L.P. by 0.7% in the first quarter. Comerica Bank now owns 8,130 shares of the pipeline company’s stock worth $239,000 after buying an additional 57 shares during the last quarter. Arcus Capital Partners LLC increased its position in shares of Plains All American Pipeline, L.P. by 1.2% in the first quarter. Arcus Capital Partners LLC now owns 6,598 shares of the pipeline company’s stock worth $209,000 after buying an additional 78 shares during the last quarter. Syntal Capital Partners LLC increased its position in shares of Plains All American Pipeline, L.P. by 1.1% in the first quarter. Syntal Capital Partners LLC now owns 9,132 shares of the pipeline company’s stock worth $288,000 after buying an additional 100 shares during the last quarter. Cedar Wealth Management LLC increased its position in shares of Plains All American Pipeline, L.P. by 1.9% in the first quarter. Cedar Wealth Management LLC now owns 9,060 shares of the pipeline company’s stock worth $286,000 after buying an additional 170 shares during the last quarter. Finally, Endurance Wealth Management Inc. increased its position in shares of Plains All American Pipeline, L.P. by 0.3% in the first quarter. Endurance Wealth Management Inc. now owns 67,320 shares of the pipeline company’s stock worth $2,128,000 after buying an additional 175 shares during the last quarter. Institutional investors and hedge funds own 44.01% of the company’s stock.

Shares of Plains All American Pipeline, L.P. (NYSE PAA) opened at 20.67 on Friday. The company has a market cap of $14.99 billion, a PE ratio of 15.95 and a beta of 0.95. The company’s 50-day moving average price is $25.58 and its 200 day moving average price is $28.64. Plains All American Pipeline, L.P. has a one year low of $20.00 and a one year high of $33.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last issued its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $5.50 billion. During the same period in the prior year, the company posted ($0.12) earnings per share. Plains All American Pipeline, L.P.’s quarterly revenue was up 22.8% compared to the same quarter last year. Equities analysts forecast that Plains All American Pipeline, L.P. will post $1.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders 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 annualized dividend and a dividend yield of 10.64%. Plains All American Pipeline, L.P.’s dividend payout ratio (DPR) is currently 165.41%.

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A number of brokerages have commented on PAA. BidaskClub downgraded Plains All American Pipeline, L.P. from a “hold” rating to a “sell” rating in a research note on Thursday. Citigroup Inc. restated a “buy” rating and issued a $28.00 target price (down from $33.50) on shares of Plains All American Pipeline, L.P. in a research note on Thursday. Barclays PLC restated 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. Raymond James Financial, Inc. set a $24.00 target price on Plains All American Pipeline, L.P. and gave the company a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley downgraded Plains All American Pipeline, L.P. from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $32.00 to $25.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Plains All American Pipeline, L.P. presently 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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