Plains All American Pipeline, L.P. (PAA) Holdings Trimmed by Private Advisor Group LLC

Private Advisor Group LLC decreased its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 6.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,023 shares of the pipeline company’s stock after selling 1,409 shares during the period. Private Advisor Group LLC’s holdings in Plains All American Pipeline, L.P. were worth $495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. WESPAC Advisors LLC purchased a new stake in Plains All American Pipeline, L.P. in the second quarter worth $231,000. Freestone Capital Holdings LLC increased its stake in Plains All American Pipeline, L.P. by 4.9% in the second quarter. Freestone Capital Holdings LLC now owns 183,708 shares of the pipeline company’s stock worth $4,826,000 after purchasing an additional 8,568 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in Plains All American Pipeline, L.P. by 4.4% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 16,480 shares of the pipeline company’s stock worth $433,000 after purchasing an additional 700 shares during the period. Atlantic Trust Group LLC increased its stake in Plains All American Pipeline, L.P. by 9.1% in the second quarter. Atlantic Trust Group LLC now owns 5,001,463 shares of the pipeline company’s stock worth $131,388,000 after purchasing an additional 415,203 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Plains All American Pipeline, L.P. by 0.5% in the second 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 purchasing an additional 19,466 shares during the period. Institutional investors and hedge funds own 42.08% of the company’s stock.

Plains All American Pipeline, L.P. (NYSE PAA) opened at 21.81 on Friday. The stock has a market cap of $15.81 billion, a price-to-earnings ratio of 16.83 and a beta of 0.99. The firm has a 50-day moving average price of $21.87 and a 200 day moving average price of $26.75. Plains All American Pipeline, L.P. has a 1-year low of $18.82 and a 1-year high of $33.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last issued its quarterly 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 company 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 earned ($0.12) EPS. Plains All American Pipeline, L.P.’s revenue for the quarter was up 22.8% compared to the same quarter last year. On average, equities research analysts anticipate that Plains All American Pipeline, L.P. will post $1.55 EPS for the current fiscal year.

A number of analysts have weighed in on the company. Raymond James Financial, Inc. upgraded Plains All American Pipeline, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a research note on Monday, May 22nd. They noted that the move was a valuation call. UBS AG upgraded Plains All American Pipeline, L.P. from a “market perform” rating to an “outperform” rating in a research note on Monday, May 22nd. Deutsche Bank AG reduced their target price on Plains All American Pipeline, L.P. from $39.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, May 30th. Stifel Nicolaus reiterated a “hold” rating and issued a $30.00 target price on shares of Plains All American Pipeline, L.P. in a research note on Wednesday, July 19th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $28.00 target price (up previously from $27.00) on shares of Plains All American Pipeline, L.P. in a research note on Friday, July 21st. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $29.23.

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Plains All American Pipeline, L.P. Company Profile

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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