Obermeyer Wood Investment Counsel Lllp lowered its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 9.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,895 shares of the pipeline company’s stock after selling 9,850 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Plains All American Pipeline were worth $2,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in PAA. Allianz Asset Management GmbH lifted its holdings in Plains All American Pipeline by 251.4% in the first quarter. Allianz Asset Management GmbH now owns 319,194 shares of the pipeline company’s stock worth $7,032,000 after buying an additional 228,370 shares during the period. Bank of Montreal Can lifted its holdings in Plains All American Pipeline by 19.9% in the second quarter. Bank of Montreal Can now owns 8,772,504 shares of the pipeline company’s stock worth $207,382,000 after buying an additional 1,453,763 shares during the period. Nwam LLC purchased a new stake in Plains All American Pipeline in the second quarter worth about $213,000. Crescent Grove Advisors LLC lifted its holdings in Plains All American Pipeline by 10.1% in the second quarter. Crescent Grove Advisors LLC now owns 27,358 shares of the pipeline company’s stock worth $647,000 after buying an additional 2,520 shares during the period. Finally, Prospera Financial Services Inc lifted its holdings in Plains All American Pipeline by 29.8% in the second quarter. Prospera Financial Services Inc now owns 12,515 shares of the pipeline company’s stock worth $295,000 after buying an additional 2,875 shares during the period. 45.83% of the stock is owned by institutional investors and hedge funds.

In related news, VP Chris Herbold sold 10,591 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $26.35, for a total value of $279,072.85. Following the completion of the transaction, the vice president now directly owns 34,227 shares in the company, valued at approximately $901,881.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Several analysts have commented on PAA shares. TheStreet upgraded shares of Plains All American Pipeline from a “c+” rating to a “b-” rating in a report on Wednesday, November 7th. Stifel Nicolaus upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating and raised their price objective for the stock from $26.00 to $28.00 in a report on Sunday, September 23rd. Morgan Stanley set a $28.00 target price on shares of Plains All American Pipeline and gave the company a “buy” rating in a report on Friday, September 14th. Johnson Rice initiated coverage on shares of Plains All American Pipeline in a report on Thursday, September 13th. They set a “buy” rating and a $31.00 target price for the company. Finally, BMO Capital Markets reiterated a “buy” rating and set a $29.00 target price on shares of Plains All American Pipeline in a report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $27.88.

PAA stock opened at $22.64 on Tuesday. Plains All American Pipeline, L.P. has a 52-week low of $18.38 and a 52-week high of $27.70. The company has a market cap of $16.70 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91. The company has a quick ratio of 0.71, a current ratio of 0.89 and a debt-to-equity ratio of 1.01.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Tuesday, November 6th. The pipeline company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Plains All American Pipeline had a net margin of 3.92% and a return on equity of 14.72%. The company had revenue of $8.79 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same period in the previous year, the business earned $0.21 EPS. The firm’s revenue for the quarter was up 49.7% on a year-over-year basis. Sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.84 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st will be issued a $0.30 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $1.20 dividend on an annualized basis and a yield of 5.30%. Plains All American Pipeline’s payout ratio is currently 127.66%.

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Plains All American Pipeline Company 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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