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

CIBC Bancorp USA Inc. bought a new stake in Plains All American Pipeline Lp (NASDAQ:PAA) during the third quarter, HoldingsChannel.com reports. The firm bought 5,126,730 shares of the company’s stock, valued at approximately $87,462,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. NewEdge Advisors LLC bought a new stake in shares of Plains All American Pipeline during the 1st quarter valued at approximately $260,000. ProShare Advisors LLC lifted its stake in Plains All American Pipeline by 17.2% in the 2nd quarter. ProShare Advisors LLC now owns 36,375 shares of the company’s stock valued at $666,000 after purchasing an additional 5,326 shares during the last quarter. Allworth Financial LP lifted its stake in Plains All American Pipeline by 397.9% in the 2nd quarter. Allworth Financial LP now owns 5,696 shares of the company’s stock valued at $104,000 after purchasing an additional 4,552 shares during the last quarter. Geode Capital Management LLC boosted its position in Plains All American Pipeline by 0.9% in the second quarter. Geode Capital Management LLC now owns 602,204 shares of the company’s stock valued at $11,032,000 after buying an additional 5,145 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Plains All American Pipeline by 44.3% during the second quarter. SG Americas Securities LLC now owns 12,632 shares of the company’s stock worth $231,000 after buying an additional 3,880 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PAA. Barclays upped their price target on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Monday, February 9th. Morgan Stanley raised their price objective on Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Plains All American Pipeline in a research report on Monday, December 29th. Citigroup upped their target price on Plains All American Pipeline from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Finally, Bank of America downgraded Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 target price for the company. in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.58.

Plains All American Pipeline Stock Up 1.6%

Shares of Plains All American Pipeline stock opened at $21.59 on Wednesday. The company has a market capitalization of $15.23 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 3.38 and a beta of 0.59. Plains All American Pipeline Lp has a twelve month low of $15.57 and a twelve month high of $22.29. The business has a fifty day simple moving average of $20.09. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.97.

Plains All American Pipeline (NASDAQ:PAA) last announced its earnings results on Friday, February 6th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 EPS.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.7%. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, January 30th. Plains All American Pipeline’s dividend payout ratio is 100.60%.

About Plains All American Pipeline

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.