Ameriprise Financial Inc. Lowers Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Ameriprise Financial Inc. trimmed its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 20.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 64,171 shares of the pipeline company’s stock after selling 16,482 shares during the period. Ameriprise Financial Inc.’s holdings in Plains All American Pipeline were worth $1,360,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PAA. BB&T Investment Services Inc. purchased a new position in shares of Plains All American Pipeline during the second quarter worth $108,000. IHT Wealth Management LLC purchased a new position in shares of Plains All American Pipeline during the second quarter worth $118,000. Advisory Services Network LLC boosted its position in shares of Plains All American Pipeline by 5.1% during the second quarter. Advisory Services Network LLC now owns 4,624 shares of the pipeline company’s stock worth $121,000 after buying an additional 223 shares during the period. Pathstone Family Office LLC purchased a new position in shares of Plains All American Pipeline during the second quarter worth $127,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Plains All American Pipeline by 14.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,462 shares of the pipeline company’s stock worth $170,000 after buying an additional 806 shares during the period. Institutional investors own 43.30% of the company’s stock.

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) opened at $22.90 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.78 and a debt-to-equity ratio of 1.20. Plains All American Pipeline, L.P. has a 52-week low of $18.38 and a 52-week high of $33.01. The company has a market capitalization of $17,375.53, a PE ratio of 24.89 and a beta of 1.00.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.24%. The ex-dividend date is Tuesday, January 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 130.44%.

In other news, VP Chris Herbold sold 10,171 shares of Plains All American Pipeline stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $20.25, for a total transaction of $205,962.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.

Several research analysts have recently commented on PAA shares. BMO Capital Markets set a $25.00 price target on Plains All American Pipeline and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Jefferies Group reiterated a “buy” rating and issued a $23.00 price objective on shares of Plains All American Pipeline in a research note on Monday, October 16th. Barclays cut Plains All American Pipeline from an “overweight” rating to a “hold” rating and set a $26.00 price objective on the stock. in a research note on Wednesday. SunTrust Banks reiterated a “hold” rating and issued a $24.00 price objective on shares of Plains All American Pipeline in a research note on Friday, November 10th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $21.00 price objective on shares of Plains All American Pipeline in a research note on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Plains All American Pipeline presently has an average rating of “Hold” and an average price target of $26.42.

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About Plains All American Pipeline

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.

Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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