Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 0.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,214,335 shares of the pipeline company’s stock after selling 7,659 shares during the period. BNP Paribas Financial Markets’ holdings in Plains All American Pipeline were worth $38,463,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PAA. Future Financial Wealth Managment LLC acquired a new stake in Plains All American Pipeline during the third quarter worth about $28,000. ORG Partners LLC boosted its position in Plains All American Pipeline by 78.5% in the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 730 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of Plains All American Pipeline by 53.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after purchasing an additional 1,318 shares during the period. American National Bank increased its holdings in shares of Plains All American Pipeline by 249.2% during the 2nd quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock valued at $78,000 after purchasing an additional 3,110 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Plains All American Pipeline by 31.2% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock valued at $80,000 after purchasing an additional 1,060 shares during the period. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PAA. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Friday, November 15th. Bank of America began coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price on the stock. Finally, Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $22.00 to $19.00 in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Plains All American Pipeline has an average rating of “Hold” and an average target price of $19.82.

Plains All American Pipeline Trading Up 2.4 %

Shares of Plains All American Pipeline stock opened at $18.09 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a twelve month low of $14.46 and a twelve month high of $19.17. The firm has a market capitalization of $12.73 billion, a PE ratio of 16.15 and a beta of 1.61. The firm’s 50-day moving average price is $17.38 and its 200 day moving average price is $17.54.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.06. The business had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 earnings per share. On average, sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.27 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.3175 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.27 annualized dividend and a yield of 7.02%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 113.39%.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.