Adell Harriman & Carpenter Inc. Trims Stake in Plains All American Pipeline, L.P. (PAA)

Adell Harriman & Carpenter Inc. trimmed its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 19.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,265 shares of the pipeline company’s stock after selling 2,935 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Plains All American Pipeline, L.P. were worth $260,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PAA. Alps Advisors Inc. lifted its position in shares of Plains All American Pipeline, L.P. by 10.9% during the third quarter. Alps Advisors Inc. now owns 33,958,970 shares of the pipeline company’s stock worth $719,591,000 after purchasing an additional 3,346,596 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Plains All American Pipeline, L.P. by 893.0% during the second quarter. Renaissance Technologies LLC now owns 1,921,614 shares of the pipeline company’s stock worth $50,481,000 after purchasing an additional 1,728,100 shares in the last quarter. Commonwealth Bank of Australia acquired a new position in shares of Plains All American Pipeline, L.P. during the second quarter worth approximately $33,266,000. Center Coast Capital Advisors LP lifted its position in shares of Plains All American Pipeline, L.P. by 13.0% during the third quarter. Center Coast Capital Advisors LP now owns 9,155,804 shares of the pipeline company’s stock worth $194,011,000 after purchasing an additional 1,056,634 shares in the last quarter. Finally, Global X Management Co. LLC lifted its position in shares of Plains All American Pipeline, L.P. by 121.7% during the second quarter. Global X Management Co. LLC now owns 1,755,868 shares of the pipeline company’s stock worth $46,127,000 after purchasing an additional 963,750 shares in the last quarter. Institutional investors own 42.05% of the company’s stock.

Shares of Plains All American Pipeline, L.P. (NYSE PAA) traded down $0.73 during trading hours on Tuesday, reaching $20.36. 3,660,400 shares of the company’s stock traded hands, compared to its average volume of 2,667,164. Plains All American Pipeline, L.P. has a 1 year low of $18.76 and a 1 year high of $33.95. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.00 and a quick ratio of 0.78. The company has a market capitalization of $15,294.24, a P/E ratio of 25.41 and a beta of 1.01.

Plains All American Pipeline, L.P. (NYSE:PAA) last issued its earnings results on Monday, November 6th. The pipeline company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). Plains All American Pipeline, L.P. had a net margin of 3.22% and a return on equity of 9.06%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $6.24 billion. During the same period in the previous year, the company posted $0.39 EPS. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. equities analysts forecast that Plains All American Pipeline, L.P. will post 1.14 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.89%. The ex-dividend date is Monday, October 30th. Plains All American Pipeline, L.P.’s dividend payout ratio is 239.13%.

PAA has been the topic of a number of research reports. BidaskClub lowered shares of Plains All American Pipeline, L.P. from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Jefferies Group LLC upgraded shares of Plains All American Pipeline, L.P. from a “hold” rating to a “buy” rating and reduced their target price for the stock from $28.00 to $23.00 in a research report on Monday, August 21st. Zacks Investment Research lowered shares of Plains All American Pipeline, L.P. from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. UBS AG raised shares of Plains All American Pipeline, L.P. from an “outperform” rating to a “strong-buy” rating in a research note on Monday, August 28th. Finally, Scotiabank set a $36.00 price target on shares of Plains All American Pipeline, L.P. and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Plains All American Pipeline, L.P. currently has a consensus rating of “Hold” and an average target price of $27.52.

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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.

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

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