Clinton Group Inc. Acquires New Position in Plains All American Pipeline, L.P. (PAA)

Clinton Group Inc. purchased a new stake in Plains All American Pipeline, L.P. (NYSE:PAA) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 18,786 shares of the pipeline company’s stock, valued at approximately $494,000.

Other large investors also recently made changes to their positions in the company. Pathstone Family Office LLC bought a new stake in Plains All American Pipeline, L.P. in the second quarter valued at $127,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Plains All American Pipeline, L.P. 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 purchasing an additional 806 shares during the last quarter. Murphy Capital Management Inc. grew its holdings in shares of Plains All American Pipeline, L.P. by 4.8% during the second quarter. Murphy Capital Management Inc. now owns 7,712 shares of the pipeline company’s stock worth $202,000 after purchasing an additional 350 shares during the last quarter. Strategy Asset Managers LLC grew its holdings in shares of Plains All American Pipeline, L.P. by 9.1% during the second quarter. Strategy Asset Managers LLC now owns 7,699 shares of the pipeline company’s stock worth $202,000 after purchasing an additional 642 shares during the last quarter. Finally, MML Investors Services LLC grew its holdings in shares of Plains All American Pipeline, L.P. by 2.2% during the second quarter. MML Investors Services LLC now owns 7,985 shares of the pipeline company’s stock worth $210,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 42.08% of the company’s stock.

Plains All American Pipeline, L.P. (NYSE:PAA) opened at 20.72 on Tuesday. Plains All American Pipeline, L.P. has a 1-year low of $18.82 and a 1-year high of $33.95. The firm has a 50-day moving average price of $21.58 and a 200 day moving average price of $25.21. The firm has a market cap of $15.02 billion, a price-to-earnings ratio of 15.99 and a beta of 0.98.

Plains All American Pipeline, L.P. (NYSE:PAA) last released its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). Plains All American Pipeline, L.P. had a net margin of 4.42% and a return on equity of 10.14%. The company had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the firm posted ($0.12) EPS. The company’s quarterly revenue was up 22.8% on a year-over-year basis. Equities analysts predict that Plains All American Pipeline, L.P. will post $1.53 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be given a $0.30 dividend. The ex-dividend date is Monday, October 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.79%. Plains All American Pipeline, L.P.’s dividend payout ratio (DPR) is presently 165.41%.

Several analysts have recently commented on the company. Jefferies Group LLC restated a “buy” rating and set a $23.00 target price on shares of Plains All American Pipeline, L.P. in a report on Monday. Robert W. Baird set a $20.00 target price on Plains All American Pipeline, L.P. and gave the stock a “hold” rating in a report on Thursday, October 12th. Seaport Global Securities assumed coverage on Plains All American Pipeline, L.P. in a report on Tuesday, October 10th. They set a “neutral” rating and a $23.00 target price on the stock. Bank of America Corporation decreased their target price on Plains All American Pipeline, L.P. from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, August 28th. Finally, Stifel Nicolaus set a $21.00 target price on Plains All American Pipeline, L.P. and gave the stock a “hold” rating in a report on Monday, August 28th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Plains All American Pipeline, L.P. currently has an average rating of “Hold” and an average target price of $27.60.

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Plains All American Pipeline, L.P. Profile

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, L.P. (NYSE:PAA)

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