Neuberger Berman Group LLC Sells 613,132 Shares of Plains All American Pipeline, L.P. (PAA)

Neuberger Berman Group LLC cut its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 66.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 305,273 shares of the pipeline company’s stock after selling 613,132 shares during the period. Neuberger Berman Group LLC’s holdings in Plains All American Pipeline were worth $6,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. California Public Employees Retirement System lifted its position in Plains All American Pipeline by 150.8% during the third quarter. California Public Employees Retirement System now owns 1,580,339 shares of the pipeline company’s stock valued at $33,487,000 after purchasing an additional 950,322 shares during the last quarter. Beacon Investment Advisory Services Inc. lifted its position in Plains All American Pipeline by 100.0% during the third quarter. Beacon Investment Advisory Services Inc. now owns 75,500 shares of the pipeline company’s stock valued at $1,600,000 after purchasing an additional 37,750 shares during the last quarter. Gen IV Investment Opportunities LLC lifted its position in Plains All American Pipeline by 72.0% during the third quarter. Gen IV Investment Opportunities LLC now owns 661,328 shares of the pipeline company’s stock valued at $14,014,000 after purchasing an additional 276,928 shares during the last quarter. Cohen & Steers Inc. lifted its position in Plains All American Pipeline by 59.2% during the third quarter. Cohen & Steers Inc. now owns 929,682 shares of the pipeline company’s stock valued at $19,700,000 after purchasing an additional 345,664 shares during the last quarter. Finally, Castleton Investment Management LLC bought a new position in Plains All American Pipeline during the third quarter valued at $2,606,000. 43.41% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on PAA shares. Jefferies Group restated a “buy” rating and issued a $23.00 target price on shares of Plains All American Pipeline in a report on Monday, October 16th. Zacks Investment Research downgraded shares of Plains All American Pipeline from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Robert W. Baird reaffirmed a “hold” rating and issued a $21.00 price target on shares of Plains All American Pipeline in a research note on Friday, November 10th. BMO Capital Markets set a $25.00 target price on shares of Plains All American Pipeline and gave the company a “buy” rating in a research report on Tuesday, October 17th. Finally, Stifel Nicolaus raised their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Plains All American Pipeline presently has a consensus rating of “Hold” and a consensus target price of $26.42.

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) opened at $23.58 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.78 and a current ratio of 1.00. Plains All American Pipeline, L.P. has a 12 month low of $18.38 and a 12 month high of $33.01. The company has a market cap of $17,100.00, a P/E ratio of 27.42 and a beta of 1.00.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Monday, November 6th. The pipeline company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $6.24 billion. Plains All American Pipeline had a net margin of 3.22% and a return on equity of 9.06%. Plains All American Pipeline’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. equities research analysts predict that Plains All American Pipeline, L.P. will post 1.14 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.09%. The ex-dividend date is Tuesday, January 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is 191.86%.

In other news, VP Chris Herbold sold 10,171 shares of Plains All American Pipeline stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $20.25, for a total transaction of $205,962.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by insiders.

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Plains All American Pipeline 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 (NYSE:PAA)

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