Plains All American Pipeline, L.P. (PAA) Stake Lowered by Raymond James & Associates

Raymond James & Associates cut its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 330,645 shares of the pipeline company’s stock after selling 9,414 shares during the quarter. Raymond James & Associates’ holdings in Plains All American Pipeline were worth $6,626,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PAA. Alps Advisors Inc. grew its position in shares of Plains All American Pipeline by 4.0% in the 4th quarter. Alps Advisors Inc. now owns 39,061,715 shares of the pipeline company’s stock valued at $782,797,000 after purchasing an additional 1,516,386 shares during the period. Tortoise Capital Advisors L.L.C. grew its position in shares of Plains All American Pipeline by 21.2% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 36,218,579 shares of the pipeline company’s stock valued at $905,827,000 after purchasing an additional 6,343,995 shares during the period. Brookfield Asset Management Inc. grew its position in shares of Plains All American Pipeline by 3.0% in the 3rd quarter. Brookfield Asset Management Inc. now owns 10,057,467 shares of the pipeline company’s stock valued at $251,538,000 after purchasing an additional 292,992 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Plains All American Pipeline by 11.4% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,466,283 shares of the pipeline company’s stock valued at $211,742,000 after purchasing an additional 867,304 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of Plains All American Pipeline by 21.1% in the 3rd quarter. Wells Fargo & Company MN now owns 3,395,274 shares of the pipeline company’s stock valued at $84,917,000 after purchasing an additional 591,425 shares during the period. 47.39% of the stock is owned by institutional investors.

NYSE:PAA opened at $24.24 on Friday. Plains All American Pipeline, L.P. has a twelve month low of $19.33 and a twelve month high of $27.70. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.02 and a quick ratio of 0.84. The company has a market cap of $17.62 billion, a price-to-earnings ratio of 12.89 and a beta of 1.09.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Tuesday, February 5th. The pipeline company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. Plains All American Pipeline had a return on equity of 18.87% and a net margin of 6.50%. The firm had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $9.92 billion. During the same quarter in the prior year, the firm posted $0.26 EPS. The business’s revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Shareholders of record on Thursday, January 31st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date was Wednesday, January 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 63.83%.

Several equities analysts recently issued reports on PAA shares. ValuEngine upgraded Plains All American Pipeline from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Wolfe Research upgraded Plains All American Pipeline from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 26th. Tudor Pickering upgraded Plains All American Pipeline from a “hold” rating to a “buy” rating in a research report on Wednesday, February 6th. Citigroup decreased their price objective 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. Finally, Jefferies Financial Group upgraded Plains All American Pipeline from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $28.33.

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

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