Plains All American Pipeline, L.P. (PAA) Position Held by United Asset Strategies Inc.

United Asset Strategies Inc. continued to hold its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,000 shares of the pipeline company’s stock at the end of the first quarter. United Asset Strategies Inc.’s holdings in Plains All American Pipeline, L.P. were worth $253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Energy Income Partners LLC bought a new stake in shares of Plains All American Pipeline, L.P. during the fourth quarter valued at approximately $224,935,000. FMR LLC raised its stake in Plains All American Pipeline, L.P. by 350.2% in the fourth quarter. FMR LLC now owns 2,731,400 shares of the pipeline company’s stock valued at $88,197,000 after buying an additional 2,124,700 shares during the period. ING Groep NV raised its stake in Plains All American Pipeline, L.P. by 127.6% in the first quarter. ING Groep NV now owns 2,089,500 shares of the pipeline company’s stock valued at $66,049,000 after buying an additional 1,171,500 shares during the period. Brookfield Asset Management Inc. acquired a new stake in Plains All American Pipeline, L.P. during the third quarter valued at about $36,616,000. Finally, Center Coast Capital Advisors LP raised its stake in Plains All American Pipeline, L.P. by 16.2% in the first quarter. Center Coast Capital Advisors LP now owns 7,121,936 shares of the pipeline company’s stock valued at $225,124,000 after buying an additional 994,904 shares during the period. 43.71% of the stock is currently owned by institutional investors.

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

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) opened at 24.82 on Friday. The stock has a market capitalization of $17.99 billion, a P/E ratio of 23.07 and a beta of 0.95. Plains All American Pipeline, L.P. has a 52-week low of $23.68 and a 52-week high of $33.95. The stock has a 50 day moving average of $27.00 and a 200-day moving average of $30.43.

Plains All American Pipeline, L.P. (NYSE:PAA) last posted its quarterly earnings results on Monday, May 8th. The pipeline company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.09. Plains All American Pipeline, L.P. had a net margin of 4.26% and a return on equity of 9.52%. The business had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $5.34 billion. During the same quarter last year, the firm earned $0.45 earnings per share. The firm’s quarterly revenue was up 62.2% compared to the same quarter last year. Analysts predict that Plains All American Pipeline, L.P. will post $1.68 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Plains All American Pipeline, L.P. (PAA) Position Held by United Asset Strategies Inc.” was first reported by Transcript Daily and is the property of of Transcript Daily. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of United States and international copyright and trademark legislation. The correct version of this piece of content can be accessed at https://transcriptdaily.com/2017/06/17/united-asset-strategies-inc-has-253000-position-in-plains-all-american-pipeline-l-p-paa-updated-updated.html.

PAA has been the subject of several recent analyst reports. Deutsche Bank AG reduced their price objective on shares of Plains All American Pipeline, L.P. from $39.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, May 30th. Scotiabank reaffirmed a “buy” rating and set a $36.00 price objective on shares of Plains All American Pipeline, L.P. in a research note on Thursday, April 27th. Barclays PLC reissued an “equal weight” rating and issued a $31.00 price target on shares of Plains All American Pipeline, L.P. in a research note on Thursday, March 30th. Stifel Nicolaus cut their price target on shares of Plains All American Pipeline, L.P. from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, May 10th. Finally, Jefferies Group LLC cut shares of Plains All American Pipeline, L.P. from a “buy” rating to a “hold” rating and cut their price target for the stock from $28.00 to $27.00 in a research note on Friday, April 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Plains All American Pipeline, L.P. currently has a consensus rating of “Hold” and an average price target of $32.88.

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.

Receive News & Ratings for Plains All American Pipeline L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains All American Pipeline L.P. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply