IMC Chicago LLC Buys Shares of 28,140 Plains All American Pipeline, L.P. (NYSE:PAA)

IMC Chicago LLC bought a new stake in Plains All American Pipeline, L.P. (NYSE:PAA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,140 shares of the pipeline company’s stock, valued at approximately $685,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. raised its stake in shares of Plains All American Pipeline by 5.3% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 39,904,482 shares of the pipeline company’s stock worth $971,674,000 after purchasing an additional 2,014,541 shares in the last quarter. Brookfield Asset Management Inc. raised its stake in shares of Plains All American Pipeline by 3.2% during the 2nd quarter. Brookfield Asset Management Inc. now owns 14,283,205 shares of the pipeline company’s stock worth $347,796,000 after purchasing an additional 446,655 shares in the last quarter. Chickasaw Capital Management LLC raised its stake in shares of Plains All American Pipeline by 19.1% during the 2nd quarter. Chickasaw Capital Management LLC now owns 9,784,469 shares of the pipeline company’s stock worth $238,252,000 after purchasing an additional 1,572,459 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Plains All American Pipeline by 9.8% during the 1st quarter. CIBC Private Wealth Group LLC now owns 7,987,029 shares of the pipeline company’s stock worth $195,762,000 after purchasing an additional 712,077 shares in the last quarter. Finally, Energy Income Partners LLC raised its stake in shares of Plains All American Pipeline by 1.8% during the 2nd quarter. Energy Income Partners LLC now owns 6,153,930 shares of the pipeline company’s stock worth $149,849,000 after purchasing an additional 107,371 shares in the last quarter. Hedge funds and other institutional investors own 50.45% of the company’s stock.

PAA traded down $0.08 during trading hours on Friday, reaching $21.50. The company’s stock had a trading volume of 5,347,366 shares, compared to its average volume of 2,390,870. Plains All American Pipeline, L.P. has a 52 week low of $19.33 and a 52 week high of $26.14. The company’s 50-day moving average is $21.70 and its 200-day moving average is $23.51. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 1.00. The firm has a market cap of $15.70 billion, a PE ratio of 11.44 and a beta of 1.02.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.23. Plains All American Pipeline had a return on equity of 21.81% and a net margin of 9.48%. The business had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter in the prior year, the business earned $0.27 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts anticipate that Plains All American Pipeline, L.P. will post 2.25 earnings per share for the current fiscal year.

In related news, VP Chris Herbold sold 23,337 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $21.38, for a total value of $498,945.06. Following the sale, the vice president now owns 79,564 shares in the company, valued at approximately $1,701,078.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently issued reports on PAA shares. Piper Jaffray Companies started coverage on Plains All American Pipeline in a research note on Wednesday, July 17th. They set an “overweight” rating and a $31.00 price objective on the stock. Scotia Howard Weill started coverage on Plains All American Pipeline in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $28.00 price objective on the stock. Scotiabank started coverage on Plains All American Pipeline in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $28.00 price objective on the stock. Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating in a research note on Thursday, June 13th. Finally, ValuEngine cut Plains All American Pipeline from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $27.73.

Plains All American Pipeline Company Profile

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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