Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 8.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,548,160 shares of the pipeline company’s stock after selling 324,510 shares during the quarter. Plains All American Pipeline makes up 1.1% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s portfolio, making the stock its 12th largest holding. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.49% of Plains All American Pipeline worth $75,186,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of PAA. BB&T Investment Services Inc. acquired a new stake in Plains All American Pipeline in the second quarter worth about $108,000. IHT Wealth Management LLC acquired a new stake in Plains All American Pipeline in the second quarter worth about $118,000. Advisory Services Network LLC boosted its holdings in Plains All American Pipeline by 5.1% during the second quarter. Advisory Services Network LLC now owns 4,624 shares of the pipeline company’s stock worth $121,000 after buying an additional 223 shares during the last quarter. Pathstone Family Office LLC bought a new position in Plains All American Pipeline during the second quarter worth about $127,000. Finally, Spectrum Management Group Inc. bought a new position in Plains All American Pipeline during the third quarter worth about $142,000. 43.45% of the stock is owned by institutional investors.
In related news, VP Chris Herbold sold 10,171 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $20.25, for a total transaction of $205,962.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.
Plains All American Pipeline, L.P. (NYSE:PAA) traded down $0.45 during trading hours on Wednesday, hitting $19.75. The stock had a trading volume of 4,146,200 shares, compared to its average volume of 2,752,197. The company has a market cap of $14,648.82, a P/E ratio of 24.34 and a beta of 1.00. The company has a current ratio of 1.00, a quick ratio of 0.78 and a debt-to-equity ratio of 1.20. Plains All American Pipeline, L.P. has a 1 year low of $18.38 and a 1 year high of $33.75.
Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Monday, November 6th. The pipeline company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). Plains All American Pipeline had a return on equity of 9.06% and a net margin of 3.22%. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $6.24 billion. During the same quarter in the prior year, the company earned $0.39 earnings per share. Plains All American Pipeline’s quarterly revenue was up 13.6% compared to the same quarter last year. analysts expect that Plains All American Pipeline, L.P. will post 1.14 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 6.08%. Plains All American Pipeline’s dividend payout ratio is currently 239.13%.
Several equities analysts have recently weighed in on PAA shares. Raymond James Financial set a $24.00 target price on Plains All American Pipeline and gave the company a “buy” rating in a research note on Wednesday, August 9th. BidaskClub cut Plains All American Pipeline from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Stifel Nicolaus cut their target price on Plains All American Pipeline from $30.00 to $26.00 and set a “hold” rating on the stock in a research note on Tuesday, August 8th. Howard Weil lowered Plains All American Pipeline from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, August 8th. Finally, Citigroup reaffirmed a “buy” rating and set a $28.00 price target (down previously from $33.50) on shares of Plains All American Pipeline in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.15.
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Plains All American Pipeline Profile
Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.
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