Plains All American Pipeline, L.P. (PAA) Stake Raised by Center Coast Capital Advisors LP

Center Coast Capital Advisors LP raised its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 13.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,155,804 shares of the pipeline company’s stock after buying an additional 1,056,634 shares during the quarter. Plains All American Pipeline, L.P. comprises 4.8% of Center Coast Capital Advisors LP’s investment portfolio, making the stock its 12th largest position. Center Coast Capital Advisors LP owned approximately 1.26% of Plains All American Pipeline, L.P. worth $194,011,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. IHT Wealth Management LLC bought a new stake in shares of Plains All American Pipeline, L.P. in the 2nd quarter worth approximately $118,000. BB&T Investment Services Inc. bought a new stake in shares of Plains All American Pipeline, L.P. in the 2nd quarter worth approximately $108,000. Advisory Services Network LLC grew its position in shares of Plains All American Pipeline, L.P. by 5.1% in the 2nd quarter. Advisory Services Network LLC now owns 4,624 shares of the pipeline company’s stock worth $121,000 after buying an additional 223 shares during the last quarter. Pathstone Family Office LLC bought a new stake in shares of Plains All American Pipeline, L.P. in the 2nd quarter worth approximately $127,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Plains All American Pipeline, L.P. by 14.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,462 shares of the pipeline company’s stock worth $170,000 after buying an additional 806 shares during the last quarter. Hedge funds and other institutional investors own 42.05% of the company’s stock.

A number of brokerages have recently weighed in on PAA. Jefferies Group LLC reiterated a “buy” rating and issued a $24.00 price objective (up from $20.19) on shares of Plains All American Pipeline, L.P. in a research report on Monday, August 28th. Barclays PLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Plains All American Pipeline, L.P. in a research report on Wednesday, August 9th. Raymond James Financial, Inc. upgraded Plains All American Pipeline, L.P. from an “outperform” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Monday, August 28th. BidaskClub lowered Plains All American Pipeline, L.P. from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Finally, Seaport Global Securities began coverage on Plains All American Pipeline, L.P. in a research report on Tuesday, October 10th. They issued a “neutral” rating and a $23.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Plains All American Pipeline, L.P. presently has a consensus rating of “Hold” and an average price target of $27.52.

Shares of Plains All American Pipeline, L.P. (NYSE PAA) traded down $0.21 during trading hours on Tuesday, reaching $20.15. The company’s stock had a trading volume of 823,456 shares, compared to its average volume of 2,667,164. The stock has a market capitalization of $15,294.24, a PE ratio of 25.41 and a beta of 1.01. Plains All American Pipeline, L.P. has a 1-year low of $18.76 and a 1-year high of $33.95. The company has a quick ratio of 0.78, a current ratio of 1.00 and a debt-to-equity ratio of 1.20.

Plains All American Pipeline, L.P. (NYSE:PAA) last announced its quarterly earnings data on Monday, November 6th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $6.24 billion. Plains All American Pipeline, L.P. had a net margin of 3.22% and a return on equity of 9.06%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 EPS. sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.14 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.96%. The ex-dividend date of this dividend is Monday, October 30th. Plains All American Pipeline, L.P.’s dividend payout ratio is currently 239.13%.

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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.

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

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