First National Trust Co Cuts Stake in Plains All American Pipeline, L.P. (PAA)

First National Trust Co lessened its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 13.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,880 shares of the pipeline company’s stock after selling 1,908 shares during the quarter. First National Trust Co’s holdings in Plains All American Pipeline were worth $238,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PAA. FMR LLC lifted its stake in Plains All American Pipeline by 145.2% in the second quarter. FMR LLC now owns 517,079 shares of the pipeline company’s stock valued at $12,224,000 after buying an additional 306,179 shares during the period. Clinton Group Inc. bought a new stake in shares of Plains All American Pipeline in the third quarter worth about $445,000. Lau Associates LLC bought a new stake in shares of Plains All American Pipeline in the third quarter worth about $915,000. State of New Jersey Common Pension Fund D grew its holdings in shares of Plains All American Pipeline by 2.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 1,072,200 shares of the pipeline company’s stock worth $26,816,000 after buying an additional 27,100 shares in the last quarter. Finally, Chickasaw Capital Management LLC boosted its position in Plains All American Pipeline by 1.9% during the third quarter. Chickasaw Capital Management LLC now owns 6,151,434 shares of the pipeline company’s stock valued at $153,847,000 after purchasing an additional 113,603 shares during the last quarter. 47.24% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently commented on the company. Zacks Investment Research cut Plains All American Pipeline from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Citigroup reduced their price target on Plains All American Pipeline from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, November 29th. ValuEngine cut Plains All American Pipeline from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. TheStreet raised Plains All American Pipeline from a “c+” rating to a “b-” rating in a research report on Wednesday, November 7th. Finally, Mizuho assumed coverage on Plains All American Pipeline in a research report on Wednesday, November 28th. They set a “buy” rating and a $30.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company. Plains All American Pipeline currently has an average rating of “Buy” and an average target price of $28.13.

PAA opened at $22.98 on Thursday. Plains All American Pipeline, L.P. has a 12-month low of $19.33 and a 12-month high of $27.70. The company has a market capitalization of $16.91 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. The company has a quick ratio of 0.71, a current ratio of 0.89 and a debt-to-equity ratio of 1.01.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Tuesday, November 6th. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.06. Plains All American Pipeline had a return on equity of 14.72% and a net margin of 3.92%. The company had revenue of $8.79 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period last year, the firm posted $0.21 earnings per share. The business’s revenue was up 49.7% on a year-over-year basis. As a group, equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.89 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Stockholders of record on Thursday, January 31st will be given a $0.30 dividend. The ex-dividend date is Wednesday, January 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.22%. Plains All American Pipeline’s payout ratio is 127.66%.

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Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

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Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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