Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 5.7% during the 3rd quarter, Holdings Channel reports. The fund owned 151,856 shares of the pipeline company’s stock after selling 9,253 shares during the quarter. Advisors Asset Management Inc.’s holdings in Plains All American Pipeline were worth $2,638,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new stake in Plains All American Pipeline in the 3rd quarter valued at about $28,000. ORG Partners LLC increased its stake in shares of Plains All American Pipeline by 78.5% during the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock worth $30,000 after buying an additional 730 shares during the period. Sunbelt Securities Inc. raised its holdings in Plains All American Pipeline by 53.2% in the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock valued at $68,000 after acquiring an additional 1,318 shares in the last quarter. American National Bank lifted its stake in Plains All American Pipeline by 249.2% in the second quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock worth $78,000 after acquiring an additional 3,110 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in Plains All American Pipeline by 31.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock worth $80,000 after acquiring an additional 1,060 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Up 0.7 %

Shares of NYSE:PAA opened at $17.94 on Friday. Plains All American Pipeline, L.P. has a fifty-two week low of $14.46 and a fifty-two week high of $19.17. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The firm’s 50-day simple moving average is $17.37 and its 200-day simple moving average is $17.54. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 16.02 and a beta of 1.61.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The company had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 EPS. As a group, equities research analysts predict that Plains All American Pipeline, L.P. will post 1.27 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date was Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 113.39%.

Analyst Upgrades and Downgrades

PAA has been the subject of several recent analyst reports. Morgan Stanley cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a report on Friday, November 15th. Finally, Bank of America assumed coverage on Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.82.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.