Bridges Investment Counsel Inc. Reduces Holdings in Plains All American Pipeline, L.P. (PAA)

Bridges Investment Counsel Inc. lowered its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 49.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,747 shares of the pipeline company’s stock after selling 15,394 shares during the period. Bridges Investment Counsel Inc.’s holdings in Plains All American Pipeline, L.P. were worth $333,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Plains All American Pipeline, L.P. by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,872,670 shares of the pipeline company’s stock valued at $101,735,000 after buying an additional 19,466 shares during the period. Rothschild Investment Corp IL raised its stake in shares of Plains All American Pipeline, L.P. by 3.1% in the second quarter. Rothschild Investment Corp IL now owns 99,975 shares of the pipeline company’s stock valued at $2,626,000 after buying an additional 3,050 shares during the period. Bollard Group LLC raised its stake in shares of Plains All American Pipeline, L.P. by 2.0% in the second quarter. Bollard Group LLC now owns 333,220 shares of the pipeline company’s stock valued at $8,754,000 after buying an additional 6,461 shares during the period. Chicago Partners Investment Group LLC raised its stake in shares of Plains All American Pipeline, L.P. by 18.4% in the second quarter. Chicago Partners Investment Group LLC now owns 195,900 shares of the pipeline company’s stock valued at $5,839,000 after buying an additional 30,403 shares during the period. Finally, Commonwealth Bank of Australia bought a new stake in shares of Plains All American Pipeline, L.P. in the second quarter valued at $33,266,000. 41.69% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “Bridges Investment Counsel Inc. Reduces Holdings in Plains All American Pipeline, L.P. (PAA)” was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US and international copyright and trademark laws. The original version of this piece of content can be read at https://www.dispatchtribunal.com/2017/10/27/plains-all-american-pipeline-l-p-paa-position-decreased-by-bridges-investment-counsel-inc.html.

Shares of Plains All American Pipeline, L.P. (NYSE PAA) traded up 2.12% during mid-day trading on Friday, reaching $19.77. The company’s stock had a trading volume of 1,520,974 shares. Plains All American Pipeline, L.P. has a one year low of $18.77 and a one year high of $33.95. The firm’s 50 day moving average is $21.32 and its 200 day moving average is $24.61. The firm has a market cap of $14.33 billion, a PE ratio of 15.25 and a beta of 0.98.

Plains All American Pipeline, L.P. (NYSE:PAA) last announced its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.05). The firm had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.50 billion. Plains All American Pipeline, L.P. had a return on equity of 10.14% and a net margin of 4.42%. The firm’s quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) EPS. On average, equities analysts anticipate that Plains All American Pipeline, L.P. will post $1.45 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.20%. Plains All American Pipeline, L.P.’s payout ratio is currently 165.41%.

A number of research firms recently issued reports on PAA. BidaskClub lowered Plains All American Pipeline, L.P. from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Jefferies Group LLC upgraded Plains All American Pipeline, L.P. from a “hold” rating to a “buy” rating and reduced their target price for the stock from $28.00 to $23.00 in a research report on Monday, August 21st. Zacks Investment Research cut Plains All American Pipeline, L.P. from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. UBS AG upgraded Plains All American Pipeline, L.P. from an “outperform” rating to a “strong-buy” rating in a research report on Monday, August 28th. Finally, Scotiabank set a $36.00 target price on Plains All American Pipeline, L.P. and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Plains All American Pipeline, L.P. presently has an average rating of “Hold” and an average target price of $27.60.

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.

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

Receive News & Ratings for Plains All American Pipeline L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains All American Pipeline L.P. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply