Wells Fargo & Company MN Sells 1,569,209 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Wells Fargo & Company MN trimmed its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 54.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,286,688 shares of the pipeline company’s stock after selling 1,569,209 shares during the period. Wells Fargo & Company MN owned about 0.18% of Plains All American Pipeline worth $6,794,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Islay Capital Management LLC bought a new position in shares of Plains All American Pipeline during the fourth quarter valued at $64,000. Ieq Capital LLC acquired a new stake in shares of Plains All American Pipeline during the 4th quarter worth about $424,000. Atlas Private Wealth Management bought a new position in Plains All American Pipeline during the 4th quarter valued at about $85,000. Driehaus Capital Management LLC bought a new position in Plains All American Pipeline during the 4th quarter valued at about $2,740,000. Finally, River Road Asset Management LLC acquired a new position in Plains All American Pipeline in the fourth quarter valued at about $391,000. Hedge funds and other institutional investors own 48.16% of the company’s stock.

A number of research analysts have recently issued reports on PAA shares. ValuEngine upgraded shares of Plains All American Pipeline from a “strong sell” rating to a “sell” rating in a research note on Monday, June 1st. Morgan Stanley boosted their price objective on Plains All American Pipeline from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Monday, June 1st. SunTrust Banks decreased their target price on Plains All American Pipeline from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. JPMorgan Chase & Co. cut their price target on Plains All American Pipeline from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Finally, Credit Suisse Group reissued a “hold” rating and set a $8.00 price objective on shares of Plains All American Pipeline in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $16.21.

Shares of PAA stock opened at $8.84 on Wednesday. The firm’s 50 day moving average price is $9.59 and its two-hundred day moving average price is $12.00. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.86 and a current ratio of 0.91. Plains All American Pipeline, L.P. has a 52-week low of $3.00 and a 52-week high of $25.26. The stock has a market cap of $6.11 billion, a PE ratio of -3.48 and a beta of 2.38.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.07. Plains All American Pipeline had a positive return on equity of 19.57% and a negative net margin of 4.90%. The company had revenue of $8.27 billion for the quarter, compared to the consensus estimate of $8.83 billion. As a group, sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.32 earnings per share for the current fiscal year.

Plains All American Pipeline 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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