Plains All American Pipeline, L.P. (PAA) Shares Sold by Outfitter Advisors LTD.

Outfitter Advisors LTD. lowered its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 9.1% during the second quarter, Holdings Channel reports. The firm owned 23,559 shares of the pipeline company’s stock after selling 2,350 shares during the period. Outfitter Advisors LTD.’s holdings in Plains All American Pipeline, L.P. were worth $619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PAA. Raymond James Trust N.A. acquired a new position in shares of Plains All American Pipeline, L.P. during the first quarter worth approximately $229,000. Winslow Evans & Crocker Inc. raised its position in shares of Plains All American Pipeline, L.P. by 2.6% in the first quarter. Winslow Evans & Crocker Inc. now owns 9,866 shares of the pipeline company’s stock worth $312,000 after buying an additional 250 shares during the last quarter. Baldwin Brothers Inc. MA raised its position in shares of Plains All American Pipeline, L.P. by 19.5% in the first quarter. Baldwin Brothers Inc. MA now owns 25,709 shares of the pipeline company’s stock worth $813,000 after buying an additional 4,200 shares during the last quarter. Americafirst Capital Management LLC purchased a new position in shares of Plains All American Pipeline, L.P. during the first quarter worth approximately $199,000. Finally, Regent Investment Management LLC purchased a new position in shares of Plains All American Pipeline, L.P. during the first quarter worth approximately $468,000. Institutional investors own 44.01% of the company’s stock.

Shares of Plains All American Pipeline, L.P. (PAA) opened at 20.40 on Friday. Plains All American Pipeline, L.P. has a one year low of $20.00 and a one year high of $33.95. The company has a market cap of $14.78 billion, a PE ratio of 15.74 and a beta of 0.95. The stock’s 50 day moving average price is $25.48 and its 200 day moving average price is $28.57.

Plains All American Pipeline, L.P. (NYSE:PAA) last announced its quarterly earnings data 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. The company had revenue of $6.08 billion during the quarter, compared to analyst estimates of $5.50 billion. Plains All American Pipeline, L.P. had a net margin of 4.42% and a return on equity of 10.14%. Plains All American Pipeline, L.P.’s revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.12) earnings per share. Equities analysts predict that Plains All American Pipeline, L.P. will post $1.61 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $2.20 annualized dividend and a dividend yield of 10.78%. Plains All American Pipeline, L.P.’s payout ratio is 165.41%.

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A number of research analysts recently commented on the company. 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. Raymond James Financial, Inc. set a $24.00 target price on Plains All American Pipeline, L.P. and gave the company a “buy” rating in a research note on Wednesday. BidaskClub lowered Plains All American Pipeline, L.P. from a “hold” rating to a “sell” rating in a research note on Thursday. Howard Weil lowered Plains All American Pipeline, L.P. from a “sector outperform” rating to a “sector perform” rating in a research note on Tuesday, August 8th. Finally, Stifel Nicolaus cut their target price on Plains All American Pipeline, L.P. from $30.00 to $26.00 and set a “hold” rating for the company in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $30.19.

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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