CIBC Bancorp USA Inc. Purchases New Shares in Plains All American Pipeline Lp $PAA

CIBC Bancorp USA Inc. acquired a new stake in Plains All American Pipeline Lp (NASDAQ:PAA) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,126,730 shares of the company’s stock, valued at approximately $87,462,000. CIBC Bancorp USA Inc. owned approximately 0.73% of Plains All American Pipeline at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in shares of Plains All American Pipeline in the third quarter valued at about $33,000. Caldwell Trust Co bought a new position in Plains All American Pipeline during the third quarter worth about $38,000. Global Retirement Partners LLC raised its stake in Plains All American Pipeline by 468.7% in the 3rd quarter. Global Retirement Partners LLC now owns 2,582 shares of the company’s stock worth $44,000 after purchasing an additional 2,128 shares in the last quarter. Fulcrum Asset Management LLP acquired a new stake in Plains All American Pipeline in the 3rd quarter worth about $50,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Plains All American Pipeline by 93.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,232 shares of the company’s stock valued at $78,000 after purchasing an additional 2,041 shares during the period. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Trading Up 1.6%

Shares of NASDAQ:PAA opened at $21.59 on Wednesday. The firm has a 50 day moving average price of $20.09. The firm has a market cap of $15.23 billion, a PE ratio of 13.01, a PEG ratio of 3.38 and a beta of 0.59. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. Plains All American Pipeline Lp has a 12 month low of $15.57 and a 12 month high of $22.29.

Plains All American Pipeline (NASDAQ:PAA) last issued its quarterly earnings results on Friday, February 6th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 10.76% and a net margin of 3.21%.The business’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS.

Plains All American Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a $0.4175 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.7%. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.38. Plains All American Pipeline’s dividend payout ratio (DPR) is 100.60%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Scotiabank reiterated an “outperform” rating on shares of Plains All American Pipeline in a research note on Monday, February 9th. Royal Bank Of Canada increased their price target on Plains All American Pipeline from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 17th. Barclays raised their price objective on Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Monday, February 9th. Finally, Wells Fargo & Company lifted their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.58.

Plains All American Pipeline Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.