California Public Employees Retirement System cut its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 630,017 shares of the pipeline company’s stock after selling 6,400 shares during the quarter. California Public Employees Retirement System owned about 0.09% of Plains All American Pipeline, L.P. worth $16,551,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PAA. Morgan Stanley grew its holdings in shares of Plains All American Pipeline, L.P. by 37.2% in the first quarter. Morgan Stanley now owns 14,058,014 shares of the pipeline company’s stock valued at $444,373,000 after purchasing an additional 3,808,889 shares during the period. Bank of Montreal Can increased its position in Plains All American Pipeline, L.P. by 50.4% during the second quarter. Bank of Montreal Can now owns 7,853,634 shares of the pipeline company’s stock worth $206,315,000 after purchasing an additional 2,631,118 shares during the last quarter. Bank of America Corp DE increased its position in Plains All American Pipeline, L.P. by 24.1% during the first quarter. Bank of America Corp DE now owns 8,648,721 shares of the pipeline company’s stock worth $273,386,000 after purchasing an additional 1,680,480 shares during the last quarter. Alps Advisors Inc. increased its position in Plains All American Pipeline, L.P. by 4.9% during the second quarter. Alps Advisors Inc. now owns 30,612,374 shares of the pipeline company’s stock worth $804,187,000 after purchasing an additional 1,416,441 shares during the last quarter. Finally, Commonwealth Bank of Australia purchased a new position in Plains All American Pipeline, L.P. during the second quarter worth about $33,266,000. Hedge funds and other institutional investors own 42.08% of the company’s stock.

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A number of brokerages have recently issued reports on PAA. Scotia Howard Weill restated a “sector perform” rating on shares of Plains All American Pipeline, L.P. in a report on Tuesday, August 8th. Jefferies Group LLC upgraded Plains All American Pipeline, L.P. from a “hold” rating to a “buy” rating and decreased their price objective for the company from $28.00 to $23.00 in a report on Monday, August 21st. Raymond James Financial, Inc. set a $24.00 price objective on Plains All American Pipeline, L.P. and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Stifel Nicolaus reissued a “hold” rating and set a $30.00 target price on shares of Plains All American Pipeline, L.P. in a research note on Wednesday, July 19th. Finally, Barclays PLC raised Plains All American Pipeline, L.P. from an “equal weight” rating to an “overweight” rating and set a $31.00 target price for the company in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Plains All American Pipeline, L.P. currently has a consensus rating of “Hold” and a consensus price target of $29.23.

Plains All American Pipeline, L.P. (NYSE:PAA) opened at 21.32 on Tuesday. The firm’s 50-day moving average is $21.12 and its 200 day moving average is $25.85. The firm has a market cap of $15.45 billion, a PE ratio of 16.45 and a beta of 0.98. Plains All American Pipeline, L.P. has a 12-month low of $18.82 and a 12-month 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 the Zacks’ consensus estimate of $0.26 by ($0.05). Plains All American Pipeline, L.P. had a return on equity of 10.14% and a net margin of 4.42%. The company had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same quarter in the prior year, the firm earned ($0.12) EPS. The company’s revenue for the quarter was up 22.8% compared to the same quarter last year. Equities research analysts predict that Plains All American Pipeline, L.P. will post $1.53 EPS for the current year.

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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