Cambridge Investment Research Advisors Inc. Sells 1,342 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Cambridge Investment Research Advisors Inc. lessened its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 7.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,997 shares of the pipeline company’s stock after selling 1,342 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Plains All American Pipeline were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PAA. Belvedere Advisors LLC bought a new stake in Plains All American Pipeline in the 1st quarter valued at $30,000. Paragon Capital Management LLC raised its stake in Plains All American Pipeline by 136.0% in the 2nd quarter. Paragon Capital Management LLC now owns 1,416 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 816 shares during the period. MCF Advisors LLC bought a new stake in Plains All American Pipeline in the 2nd quarter valued at $40,000. Price Wealth Management Inc. bought a new stake in Plains All American Pipeline in the 2nd quarter valued at $46,000. Finally, Arcadia Investment Management Corp MI bought a new stake in Plains All American Pipeline in the 2nd quarter valued at $49,000. Institutional investors and hedge funds own 50.41% of the company’s stock.

A number of equities research analysts recently weighed in on PAA shares. Royal Bank of Canada dropped their price target on Plains All American Pipeline to $27.00 and set a “sector perform” rating on the stock in a research note on Friday, June 14th. Scotia Howard Weill started coverage on Plains All American Pipeline in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $28.00 price target on the stock. ValuEngine upgraded Plains All American Pipeline from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus set a $25.00 price target on Plains All American Pipeline and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Scotiabank assumed coverage on Plains All American Pipeline in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $28.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. Plains All American Pipeline currently has a consensus rating of “Buy” and a consensus price target of $27.50.

In other Plains All American Pipeline news, VP Chris Herbold sold 23,337 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $21.38, for a total transaction of $498,945.06. Following the transaction, the vice president now owns 79,564 shares in the company, valued at approximately $1,701,078.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

PAA stock opened at $19.18 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.00 and a quick ratio of 0.87. The stock has a market capitalization of $14.11 billion, a price-to-earnings ratio of 10.20 and a beta of 1.02. The business’s fifty day moving average price is $21.04 and its two-hundred day moving average price is $23.12. Plains All American Pipeline, L.P. has a fifty-two week low of $19.08 and a fifty-two week high of $25.27.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.23. The firm had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Plains All American Pipeline had a return on equity of 21.81% and a net margin of 9.48%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 EPS. Research analysts expect that Plains All American Pipeline, L.P. will post 2.3 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 7.51%. The ex-dividend date of this dividend is Wednesday, October 30th. Plains All American Pipeline’s payout ratio is 76.60%.

Plains All American Pipeline Profile

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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