Commonwealth Bank of Australia purchased a new position in Plains All American Pipeline, L.P. (NYSE:PAA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,266,336 shares of the pipeline company’s stock, valued at approximately $33,266,000. Commonwealth Bank of Australia owned 0.17% of Plains All American Pipeline, L.P. as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Good Life Advisors LLC grew its stake in shares of Plains All American Pipeline, L.P. by 0.4% in the second quarter. Good Life Advisors LLC now owns 11,191 shares of the pipeline company’s stock worth $291,000 after acquiring an additional 42 shares during the period. Comerica Bank grew its stake in shares of Plains All American Pipeline, L.P. by 0.7% in the first quarter. Comerica Bank now owns 8,130 shares of the pipeline company’s stock worth $239,000 after acquiring an additional 57 shares during the period. Arcus Capital Partners LLC grew its stake in shares of Plains All American Pipeline, L.P. by 1.2% in the first quarter. Arcus Capital Partners LLC now owns 6,598 shares of the pipeline company’s stock worth $209,000 after acquiring an additional 78 shares during the period. Endurance Wealth Management Inc. grew its stake in shares of Plains All American Pipeline, L.P. by 0.3% in the first quarter. Endurance Wealth Management Inc. now owns 67,320 shares of the pipeline company’s stock worth $2,128,000 after acquiring an additional 175 shares during the period. Finally, Cutter & CO Brokerage Inc. grew its stake in shares of Plains All American Pipeline, L.P. by 1.2% in the first quarter. Cutter & CO Brokerage Inc. now owns 16,361 shares of the pipeline company’s stock worth $517,000 after acquiring an additional 188 shares during the period. Hedge funds and other institutional investors own 42.08% of the company’s stock.

Plains All American Pipeline, L.P. (NYSE:PAA) traded up 0.69% during trading on Thursday, hitting $22.02. 253,907 shares of the stock traded hands. The stock has a market cap of $15.96 billion, a P/E ratio of 16.99 and a beta of 0.99. The stock has a 50 day moving average price of $22.76 and a 200-day moving average price of $27.14. Plains All American Pipeline, L.P. has a 52-week low of $18.82 and a 52-week high of $33.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last issued its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.50 billion. Plains All American Pipeline, L.P. had a return on equity of 10.14% and a net margin of 4.42%. Plains All American Pipeline, L.P.’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) EPS. On average, analysts anticipate that Plains All American Pipeline, L.P. will post $1.57 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.20 dividend on an annualized basis and a yield of 10.06%. Plains All American Pipeline, L.P.’s dividend payout ratio is currently 165.41%.

A number of analysts have recently commented on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $24.00 price target (up from $20.19) on shares of Plains All American Pipeline, L.P. in a research note on Monday, August 28th. Mizuho upgraded shares of Plains All American Pipeline, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, July 10th. UBS AG upgraded shares of Plains All American Pipeline, L.P. from a “market perform” rating to an “outperform” rating in a research report on Monday, May 22nd. BidaskClub upgraded shares of Plains All American Pipeline, L.P. from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, Barclays PLC restated a “buy” rating and set a $28.00 target price on shares of Plains All American Pipeline, L.P. in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Plains All American Pipeline, L.P. presently has an average rating of “Hold” and an average price target of $29.23.

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About Plains All American Pipeline, L.P.

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.

Institutional Ownership by Quarter for Plains All American Pipeline, L.P. (NYSE:PAA)

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