Arrowstreet Capital Limited Partnership Buys New Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Arrowstreet Capital Limited Partnership acquired a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 108,800 shares of the pipeline company’s stock, valued at approximately $2,858,000.

A number of other institutional investors have also recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Plains All American Pipeline, L.P. by 0.5% in the 2nd 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 purchasing an additional 19,466 shares in the last quarter. Rothschild Investment Corp IL increased its holdings in shares of Plains All American Pipeline, L.P. by 3.1% in the 2nd quarter. Rothschild Investment Corp IL now owns 99,975 shares of the pipeline company’s stock valued at $2,626,000 after purchasing an additional 3,050 shares in the last quarter. Bollard Group LLC increased its holdings in shares of Plains All American Pipeline, L.P. by 2.0% in the 2nd quarter. Bollard Group LLC now owns 333,220 shares of the pipeline company’s stock valued at $8,754,000 after purchasing an additional 6,461 shares in the last quarter. Bridges Investment Counsel Inc. increased its holdings in shares of Plains All American Pipeline, L.P. by 131.4% in the 2nd quarter. Bridges Investment Counsel Inc. now owns 31,141 shares of the pipeline company’s stock valued at $818,000 after purchasing an additional 17,685 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in shares of Plains All American Pipeline, L.P. by 18.4% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 195,900 shares of the pipeline company’s stock valued at $5,839,000 after purchasing an additional 30,403 shares in the last quarter. Institutional investors own 41.69% of the company’s stock.

A number of brokerages have recently issued reports on PAA. Barclays PLC upgraded shares of Plains All American Pipeline, L.P. from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a report on Tuesday, July 18th. Jefferies Group LLC reiterated a “hold” rating and issued a $28.00 price target (up previously from $27.00) on shares of Plains All American Pipeline, L.P. in a report on Friday, July 21st. Raymond James Financial, Inc. set a $24.00 price target on shares of Plains All American Pipeline, L.P. and gave the company a “buy” rating in a report on Wednesday, August 9th. BMO Capital Markets cut their price target on shares of Plains All American Pipeline, L.P. from $31.00 to $22.00 and set a “market perform” rating for the company in a report on Friday, August 18th. Finally, Robert W. Baird cut shares of Plains All American Pipeline, L.P. from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $36.00 to $24.00 in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $27.60.

Plains All American Pipeline, L.P. (NYSE PAA) traded up 1.70% during midday trading on Friday, hitting $19.69. 3,242,103 shares of the company’s stock traded hands. The company has a 50 day moving average of $21.32 and a 200-day moving average of $24.61. Plains All American Pipeline, L.P. has a 52 week low of $18.77 and a 52 week high of $33.95. The company has a market capitalization of $14.27 billion, a PE ratio of 15.19 and a beta of 0.98.

Plains All American Pipeline, L.P. (NYSE:PAA) last issued its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.05). The company had revenue of $6.08 billion during the quarter, compared to analysts’ expectations 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 company’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.12) EPS. Equities research analysts predict that Plains All American Pipeline, L.P. will post $1.45 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, October 30th. This represents a $1.20 annualized dividend and a yield of 6.09%. Plains All American Pipeline, L.P.’s dividend payout ratio (DPR) is presently 165.41%.

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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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