Glenmede Trust Co. NA Has $4.85 Million Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Glenmede Trust Co. NA increased its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 279,030 shares of the pipeline company’s stock after acquiring an additional 18,919 shares during the period. Glenmede Trust Co. NA’s holdings in Plains All American Pipeline were worth $4,847,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of PAA. Virtu Financial LLC purchased a new stake in shares of Plains All American Pipeline in the first quarter worth approximately $279,000. Cetera Investment Advisers purchased a new stake in Plains All American Pipeline in the 1st quarter worth approximately $2,763,000. Cetera Advisors LLC boosted its stake in shares of Plains All American Pipeline by 25.8% during the 1st quarter. Cetera Advisors LLC now owns 31,870 shares of the pipeline company’s stock valued at $560,000 after buying an additional 6,546 shares during the period. Mather Group LLC. boosted its stake in shares of Plains All American Pipeline by 31.5% during the 2nd quarter. Mather Group LLC. now owns 5,676 shares of the pipeline company’s stock valued at $100,000 after buying an additional 1,361 shares during the period. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in shares of Plains All American Pipeline by 11.8% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 262,598 shares of the pipeline company’s stock valued at $4,690,000 after acquiring an additional 27,821 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on PAA shares. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Bank of America assumed coverage on Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Plains All American Pipeline currently has a consensus rating of “Hold” and a consensus target price of $19.82.

Plains All American Pipeline Trading Up 3.2 %

Shares of PAA stock opened at $18.67 on Friday. Plains All American Pipeline, L.P. has a 12 month low of $14.46 and a 12 month high of $19.17. The company has a market cap of $13.14 billion, a PE ratio of 16.67 and a beta of 1.61. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $17.39 and its two-hundred day moving average is $17.55.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. Plains All American Pipeline’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.35 EPS. Equities analysts predict that Plains All American Pipeline, L.P. will post 1.27 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.3175 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.80%. Plains All American Pipeline’s payout ratio is presently 113.39%.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.