Plains All American Pipeline, L.P. (PAA) Shares Sold by First Manhattan Co.

First Manhattan Co. reduced its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 12.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,788 shares of the pipeline company’s stock after selling 3,150 shares during the quarter. First Manhattan Co.’s holdings in Plains All American Pipeline, L.P. were worth $461,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in PAA. Bank of Montreal Can raised its holdings in Plains All American Pipeline, L.P. by 50.4% in the 2nd quarter. Bank of Montreal Can now owns 7,853,634 shares of the pipeline company’s stock valued at $206,315,000 after acquiring an additional 2,631,118 shares during the period. Renaissance Technologies LLC raised its holdings in Plains All American Pipeline, L.P. by 893.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,921,614 shares of the pipeline company’s stock valued at $50,481,000 after acquiring an additional 1,728,100 shares during the period. Alps Advisors Inc. raised its holdings in Plains All American Pipeline, L.P. by 4.9% in the 2nd quarter. Alps Advisors Inc. now owns 30,612,374 shares of the pipeline company’s stock valued at $804,187,000 after acquiring an additional 1,416,441 shares during the period. Commonwealth Bank of Australia bought a new position in Plains All American Pipeline, L.P. in the 2nd quarter valued at about $33,266,000. Finally, Center Coast Capital Advisors LP raised its holdings in Plains All American Pipeline, L.P. by 13.7% in the 2nd quarter. Center Coast Capital Advisors LP now owns 8,099,170 shares of the pipeline company’s stock valued at $212,765,000 after acquiring an additional 977,234 shares during the period. 41.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) opened at $20.24 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 1.12. The stock has a market cap of $14.66 billion, a price-to-earnings ratio of 19.81 and a beta of 1.01.

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 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 business had revenue of $6.08 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter last year, the company posted ($0.12) earnings per share. The business’s quarterly revenue was up 22.8% compared to the same quarter last year. equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.43 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.20 annualized dividend and a yield of 5.93%. Plains All American Pipeline, L.P.’s dividend payout ratio (DPR) is presently 165.41%.

Several research analysts have recently commented on PAA shares. BMO Capital Markets set a $25.00 target price on shares of Plains All American Pipeline, L.P. and gave the stock a “buy” rating in a report on Tuesday, October 17th. Scotia Howard Weill reaffirmed a “sector perform” rating on shares of Plains All American Pipeline, L.P. in a report on Tuesday, August 8th. Jefferies Group LLC raised shares of Plains All American Pipeline, L.P. from a “hold” rating to a “buy” rating and lowered their target price for the stock from $28.00 to $23.00 in a report on Monday, August 21st. Raymond James Financial, Inc. set a $24.00 target price on shares of Plains All American Pipeline, L.P. and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $30.00 target price on shares of Plains All American Pipeline, L.P. in a report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Plains All American Pipeline, L.P. presently has an average rating of “Hold” and an average target price of $27.60.

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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.

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

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