Plains All American Pipeline, L.P. (PAA) Holdings Reduced by Cowen Inc.

Cowen Inc. lowered its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,600 shares of the pipeline company’s stock after selling 300 shares during the quarter. Cowen Inc.’s holdings in Plains All American Pipeline, L.P. were worth $515,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the business. Coastline Trust Co boosted its stake in Plains All American Pipeline, L.P. by 2.4% in the second quarter. Coastline Trust Co now owns 14,860 shares of the pipeline company’s stock worth $391,000 after purchasing an additional 350 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Plains All American Pipeline, L.P. by 14.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,462 shares of the pipeline company’s stock worth $170,000 after purchasing an additional 806 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Plains All American Pipeline, L.P. by 5.9% in the second quarter. Alliancebernstein L.P. now owns 97,046 shares of the pipeline company’s stock worth $2,549,000 after purchasing an additional 5,425 shares in the last quarter. Commonwealth Bank of Australia acquired a new position in Plains All American Pipeline, L.P. in the second quarter worth $33,266,000. Finally, WESPAC Advisors LLC acquired a new position in Plains All American Pipeline, L.P. in the second quarter worth $231,000. 42.08% of the stock is currently owned by institutional investors.

Plains All American Pipeline, L.P. (NYSE PAA) traded up 0.05% on Tuesday, hitting $21.94. The company had a trading volume of 356,723 shares. The company has a market capitalization of $15.90 billion, a P/E ratio of 16.93 and a beta of 0.99. Plains All American Pipeline, L.P. has a one year low of $18.82 and a one year high of $33.95. The stock’s 50-day moving average price is $22.39 and its 200 day moving average price is $26.99.

Plains All American Pipeline, L.P. (NYSE:PAA) last posted its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). Plains All American Pipeline, L.P. had a return on equity of 10.14% and a net margin of 4.42%. The firm had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same period last year, the company posted ($0.12) earnings per share. The firm’s quarterly revenue was up 22.8% compared to the same quarter last year. On average, analysts expect that Plains All American Pipeline, L.P. will post $1.56 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 10.03%. The ex-dividend date was Thursday, July 27th. Plains All American Pipeline, L.P.’s dividend payout ratio (DPR) is currently 165.41%.

A number of equities analysts have commented on the company. Jefferies Group LLC reissued a “buy” rating and issued a $24.00 price objective (up previously from $20.19) on shares of Plains All American Pipeline, L.P. in a research note on Monday, August 28th. Mizuho raised Plains All American Pipeline, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Monday, July 10th. BidaskClub raised Plains All American Pipeline, L.P. from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. UBS AG raised Plains All American Pipeline, L.P. from a “market perform” rating to an “outperform” rating in a research note on Monday, May 22nd. Finally, Barclays PLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Plains All American Pipeline, L.P. in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Plains All American Pipeline, L.P. presently has an average rating of “Hold” and an average price target of $29.23.

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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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