Solaris Asset Management LLC reduced its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 50.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,825 shares of the pipeline company’s stock after selling 5,960 shares during the period. Solaris Asset Management LLC’s holdings in Plains All American Pipeline, L.P. were worth $153,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PAA. State of New Jersey Common Pension Fund D raised its stake in Plains All American Pipeline, L.P. by 2.5% in the first quarter. State of New Jersey Common Pension Fund D now owns 381,800 shares of the pipeline company’s stock worth $12,069,000 after buying an additional 9,300 shares during the period. Rothschild Investment Corp IL raised its stake in Plains All American Pipeline, L.P. by 3.1% in the second quarter. Rothschild Investment Corp IL now owns 99,975 shares of the pipeline company’s stock worth $2,626,000 after buying an additional 3,050 shares during the period. Verity & Verity LLC raised its stake in Plains All American Pipeline, L.P. by 0.9% in the first quarter. Verity & Verity LLC now owns 36,742 shares of the pipeline company’s stock worth $1,161,000 after buying an additional 310 shares during the period. Stifel Financial Corp raised its stake in Plains All American Pipeline, L.P. by 8.2% in the first quarter. Stifel Financial Corp now owns 621,628 shares of the pipeline company’s stock worth $19,646,000 after buying an additional 47,348 shares during the period. Finally, Bollard Group LLC raised its stake in Plains All American Pipeline, L.P. by 2.0% in the second quarter. Bollard Group LLC now owns 333,220 shares of the pipeline company’s stock worth $8,754,000 after buying an additional 6,461 shares during the period. Institutional investors and hedge funds own 44.01% of the company’s stock.

Shares of Plains All American Pipeline, L.P. (PAA) opened at 21.01 on Thursday. The stock has a 50 day moving average price of $25.66 and a 200 day moving average price of $28.70. Plains All American Pipeline, L.P. has a 52 week low of $20.00 and a 52 week high of $33.95. The firm has a market capitalization of $15.23 billion, a PE ratio of 19.53 and a beta of 0.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last announced its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by $0.05. Plains All American Pipeline, L.P. had a return on equity of 10.46% and a net margin of 4.42%. The business had revenue of $6.08 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same period last year, the company posted ($0.12) earnings per share. The firm’s revenue for the quarter was up 22.8% on a year-over-year basis. Equities analysts forecast that Plains All American Pipeline, L.P. will post $1.61 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, July 27th. This represents a $2.20 dividend on an annualized basis and a yield of 10.47%. Plains All American Pipeline, L.P.’s dividend payout ratio (DPR) is 165.41%.

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A number of equities research analysts have recently issued reports on PAA shares. Scotiabank set a $36.00 price target on Plains All American Pipeline, L.P. and gave the company a “buy” rating in a research report on Saturday, July 22nd. Jefferies Group LLC lowered Plains All American Pipeline, L.P. from a “buy” rating to a “hold” rating and dropped their price target for the company from $28.00 to $27.00 in a research report on Friday, April 21st. Stifel Nicolaus lowered their price objective on Plains All American Pipeline, L.P. from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Wednesday, May 10th. Howard Weil lowered Plains All American Pipeline, L.P. from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday. Finally, Raymond James Financial, Inc. upgraded Plains All American Pipeline, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research report on Monday, May 22nd. They noted that the move was a valuation call. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Plains All American Pipeline, L.P. currently has a consensus rating of “Hold” and a consensus price target of $30.19.

Plains All American Pipeline, L.P. Company 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.

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Institutional Ownership by Quarter for Plains All American Pipeline, L.P. (NYSE:PAA)

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