Plains All American Pipeline, L.P. (PAA) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 27.0% in the third quarter, HoldingsChannel.com reports. The firm owned 6,399,600 shares of the pipeline company’s stock after selling 2,372,904 shares during the period. Bank of Montreal Can’s holdings in Plains All American Pipeline were worth $160,054,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Alps Advisors Inc. boosted its position in Plains All American Pipeline by 5.8% in the 2nd quarter. Alps Advisors Inc. now owns 35,094,693 shares of the pipeline company’s stock valued at $829,639,000 after buying an additional 1,910,142 shares during the period. Tortoise Capital Advisors L.L.C. boosted its position in Plains All American Pipeline by 3.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 29,874,584 shares of the pipeline company’s stock valued at $706,235,000 after buying an additional 1,079,489 shares during the period. Brookfield Asset Management Inc. boosted its position in Plains All American Pipeline by 236.3% in the 1st quarter. Brookfield Asset Management Inc. now owns 9,103,919 shares of the pipeline company’s stock valued at $200,560,000 after buying an additional 6,397,059 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Plains All American Pipeline in the 2nd quarter valued at approximately $179,640,000. Finally, BlackRock Inc. boosted its position in Plains All American Pipeline by 71.3% in the 1st quarter. BlackRock Inc. now owns 4,251,747 shares of the pipeline company’s stock valued at $93,666,000 after buying an additional 1,769,523 shares during the period. 45.88% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Chris Herbold sold 10,591 shares of Plains All American Pipeline stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $26.35, for a total transaction of $279,072.85. Following the sale, the vice president now directly owns 34,227 shares in the company, valued at approximately $901,881.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Shares of PAA opened at $24.37 on Friday. Plains All American Pipeline, L.P. has a twelve month low of $18.38 and a twelve month high of $27.70. The company has a current ratio of 0.75, a quick ratio of 0.63 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $18.15 billion, a PE ratio of 25.93, a PEG ratio of 1.97 and a beta of 0.81.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Tuesday, August 7th. The pipeline company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.15. Plains All American Pipeline had a net margin of 2.04% and a return on equity of 12.80%. The firm had revenue of $8.08 billion for the quarter, compared to analyst estimates of $8.18 billion. Equities analysts expect that Plains All American Pipeline, L.P. will post 1.63 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, October 30th. This represents a $1.20 annualized dividend and a yield of 4.92%. Plains All American Pipeline’s dividend payout ratio is currently 127.66%.

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets restated a “buy” rating and issued a $29.00 price objective on shares of Plains All American Pipeline in a report on Monday, August 13th. US Capital Advisors upgraded shares of Plains All American Pipeline from a “hold” rating to an “overweight” rating and set a $30.00 price objective on the stock in a report on Friday, August 24th. TheStreet lowered shares of Plains All American Pipeline from a “b-” rating to a “c+” rating in a report on Wednesday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of Plains All American Pipeline from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, August 24th. Finally, SunTrust Banks restated a “buy” rating and issued a $29.00 price objective on shares of Plains All American Pipeline in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $27.75.

About Plains All American Pipeline

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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Want to see what other hedge funds are holding PAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plains All American Pipeline, L.P. (NYSE:PAA).

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

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