Neuberger Berman Group LLC Sells 613,132 Shares of Plains All American Pipeline, L.P. (PAA)

Neuberger Berman Group LLC cut its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 66.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 305,273 shares of the pipeline company’s stock after selling 613,132 shares during the quarter. Neuberger Berman Group LLC’s holdings in Plains All American Pipeline were worth $6,469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisory Services Network LLC lifted its holdings in Plains All American Pipeline by 5.1% during the 2nd quarter. Advisory Services Network LLC now owns 4,624 shares of the pipeline company’s stock worth $121,000 after buying an additional 223 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Plains All American Pipeline by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,872,670 shares of the pipeline company’s stock worth $101,735,000 after buying an additional 19,466 shares during the period. Commonwealth Bank of Australia acquired a new position in Plains All American Pipeline during the 2nd quarter worth about $33,266,000. Global Endowment Management LP lifted its holdings in Plains All American Pipeline by 40.7% during the 2nd quarter. Global Endowment Management LP now owns 82,300 shares of the pipeline company’s stock worth $2,162,000 after buying an additional 23,800 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in Plains All American Pipeline by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 97,046 shares of the pipeline company’s stock worth $2,549,000 after buying an additional 5,425 shares during the period. 43.41% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Chris Herbold sold 10,171 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $20.25, for a total value of $205,962.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Several research analysts have commented on the company. Stifel Nicolaus lifted their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. Robert W. Baird set a $20.00 target price on Plains All American Pipeline and gave the stock a “hold” rating in a report on Thursday, October 12th. Seaport Global Securities assumed coverage on Plains All American Pipeline in a report on Tuesday, October 10th. They set a “neutral” rating and a $23.00 target price on the stock. SunTrust Banks reaffirmed a “hold” rating and set a $24.00 target price on shares of Plains All American Pipeline in a report on Friday, November 10th. Finally, Zacks Investment Research downgraded Plains All American Pipeline from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Plains All American Pipeline has an average rating of “Hold” and an average price target of $26.63.

Plains All American Pipeline, L.P. (NYSE:PAA) opened at $20.89 on Thursday. The stock has a market capitalization of $15,315.99, a PE ratio of 22.71 and a beta of 1.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.00 and a quick ratio of 0.78. Plains All American Pipeline, L.P. has a 52 week low of $18.38 and a 52 week high of $33.75.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Monday, November 6th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Plains All American Pipeline had a net margin of 3.22% and a return on equity of 9.06%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $6.24 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.14 earnings per share for the current fiscal year.

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About Plains All American Pipeline

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 (NYSE:PAA)

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