Parkside Financial Bank & Trust Has $1.43 Million Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Parkside Financial Bank & Trust grew its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 21.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 68,998 shares of the pipeline company’s stock after buying an additional 12,043 shares during the period. Parkside Financial Bank & Trust’s holdings in Plains All American Pipeline were worth $1,432,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. increased its stake in Plains All American Pipeline by 5.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 39,904,482 shares of the pipeline company’s stock valued at $971,674,000 after acquiring an additional 2,014,541 shares during the period. Alps Advisors Inc. increased its stake in Plains All American Pipeline by 1.6% in the third quarter. Alps Advisors Inc. now owns 37,959,279 shares of the pipeline company’s stock valued at $787,655,000 after acquiring an additional 596,118 shares during the period. Brookfield Asset Management Inc. increased its stake in Plains All American Pipeline by 3.2% in the second quarter. Brookfield Asset Management Inc. now owns 14,283,205 shares of the pipeline company’s stock valued at $347,796,000 after acquiring an additional 446,655 shares during the period. Chickasaw Capital Management LLC increased its stake in Plains All American Pipeline by 19.1% in the second quarter. Chickasaw Capital Management LLC now owns 9,784,469 shares of the pipeline company’s stock valued at $238,252,000 after acquiring an additional 1,572,459 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in Plains All American Pipeline by 10.6% in the third quarter. CIBC Private Wealth Group LLC now owns 7,522,899 shares of the pipeline company’s stock valued at $156,100,000 after acquiring an additional 723,778 shares during the period. 50.46% of the stock is owned by institutional investors and hedge funds.

In other news, VP Chris Herbold sold 23,337 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $21.38, for a total transaction of $498,945.06. Following the sale, the vice president now directly owns 79,564 shares of the company’s stock, valued at $1,701,078.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

Plains All American Pipeline stock traded down $0.16 during trading hours on Friday, hitting $18.19. 2,920,500 shares of the stock were exchanged, compared to its average volume of 2,354,946. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 1.00. The stock has a market capitalization of $13.21 billion, a P/E ratio of 9.68 and a beta of 1.01. Plains All American Pipeline, L.P. has a 12 month low of $17.78 and a 12 month high of $25.27. The business’s 50-day moving average is $19.62 and its two-hundred day moving average is $22.33.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.13. Plains All American Pipeline had a net margin of 8.95% and a return on equity of 21.31%. The firm had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the prior year, the firm earned $0.43 earnings per share. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, equities analysts predict that Plains All American Pipeline, L.P. will post 2.35 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.36 per share. The ex-dividend date is Wednesday, October 30th. This represents a $1.44 annualized dividend and a dividend yield of 7.92%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 76.60%.

Several brokerages have weighed in on PAA. Stifel Nicolaus set a $25.00 price objective on shares of Plains All American Pipeline and gave the stock a “buy” rating in a research note on Wednesday, August 7th. ValuEngine raised shares of Plains All American Pipeline from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. TheStreet cut shares of Plains All American Pipeline from a “b-” rating to a “c+” rating in a research note on Tuesday, October 8th. Barclays reaffirmed a “hold” rating and set a $24.00 price objective on shares of Plains All American Pipeline in a research note on Wednesday, October 16th. Finally, Scotiabank began coverage on shares of Plains All American Pipeline in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $28.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Plains All American Pipeline presently has an average rating of “Buy” and an average price target of $26.73.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

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Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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