Raymond James & Associates boosted its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 4.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 308,008 shares of the pipeline company’s stock after purchasing an additional 14,461 shares during the quarter. Raymond James & Associates’ holdings in Plains All American Pipeline were worth $7,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in Plains All American Pipeline in the first quarter valued at approximately $108,000. Stuart Chaussee & Associates Inc. purchased a new position in Plains All American Pipeline in the second quarter valued at approximately $162,000. Penn Davis Mcfarland Inc. purchased a new position in Plains All American Pipeline in the second quarter valued at approximately $201,000. Denver Investment Advisors LLC purchased a new position in Plains All American Pipeline in the first quarter valued at approximately $207,000. Finally, Leavell Investment Management Inc. purchased a new position in Plains All American Pipeline in the second quarter valued at approximately $211,000. Hedge funds and other institutional investors own 45.89% of the company’s stock.

In other news, VP Chris Herbold sold 10,591 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $26.35, for a total transaction of $279,072.85. Following the completion of the sale, the vice president now owns 34,227 shares of the company’s stock, valued at $901,881.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Shares of NYSE:PAA opened at $24.21 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.75 and a quick ratio of 0.63. Plains All American Pipeline, L.P. has a 52-week low of $18.38 and a 52-week high of $27.70. The company has a market capitalization of $18.02 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 1.95 and a beta of 0.81.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Tuesday, August 7th. The pipeline company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.15. Plains All American Pipeline had a net margin of 2.04% and a return on equity of 12.80%. The company had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $8.18 billion. analysts anticipate that Plains All American Pipeline, L.P. will post 1.63 EPS for the current fiscal year.

Several research analysts recently commented on PAA shares. Zacks Investment Research upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, July 12th. SunTrust Banks restated a “buy” rating and issued a $29.00 price target on shares of Plains All American Pipeline in a report on Thursday, August 9th. Bank of America upgraded shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Wednesday, July 18th. Morgan Stanley raised their price target on shares of Plains All American Pipeline from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, June 1st. Finally, TheStreet downgraded shares of Plains All American Pipeline from a “b-” rating to a “c+” rating in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $27.44.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

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

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