Plains All American Pipeline, L.P. (PAA) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 27.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,399,600 shares of the pipeline company’s stock after selling 2,372,904 shares during the period. Bank of Montreal Can owned 0.88% of Plains All American Pipeline worth $160,054,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its position in shares of Plains All American Pipeline by 5.8% during the 2nd quarter. Alps Advisors Inc. now owns 35,094,693 shares of the pipeline company’s stock worth $829,639,000 after purchasing an additional 1,910,142 shares during the last quarter. Global X Management Co LLC raised its holdings in Plains All American Pipeline by 38.5% in the 2nd quarter. Global X Management Co LLC now owns 2,932,898 shares of the pipeline company’s stock valued at $69,334,000 after acquiring an additional 816,014 shares during the last quarter. Prospera Financial Services Inc raised its holdings in Plains All American Pipeline by 29.8% in the 2nd quarter. Prospera Financial Services Inc now owns 12,515 shares of the pipeline company’s stock valued at $295,000 after acquiring an additional 2,875 shares during the last quarter. Kalos Management Inc. acquired a new stake in Plains All American Pipeline in the 2nd quarter valued at about $991,000. Finally, Green Square Capital LLC raised its holdings in Plains All American Pipeline by 1.0% in the 2nd quarter. Green Square Capital LLC now owns 217,384 shares of the pipeline company’s stock valued at $5,139,000 after acquiring an additional 2,105 shares during the last quarter. Hedge funds and other institutional investors own 45.88% of the company’s stock.

PAA has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Monday, October 1st. US Capital Advisors upgraded shares of Plains All American Pipeline from a “hold” rating to an “overweight” rating and set a $30.00 price objective for the company in a report on Friday, August 24th. Morgan Stanley set a $28.00 price objective on shares of Plains All American Pipeline and gave the company a “buy” rating in a report on Friday, September 14th. TheStreet downgraded shares of Plains All American Pipeline from a “b-” rating to a “c+” rating in a report on Wednesday, August 8th. Finally, Sanford C. Bernstein downgraded shares of Plains All American Pipeline from an “outperform” rating to a “market perform” rating in a report on Monday, June 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. Plains All American Pipeline has an average rating of “Buy” and an average target price of $27.75.

Shares of NYSE PAA opened at $24.37 on Friday. The company has a market cap of $18.15 billion, a PE ratio of 25.93, a PEG ratio of 1.97 and a beta of 0.81. 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 1 year low of $18.38 and a 1 year high of $27.70.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Tuesday, August 7th. The pipeline company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.15. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $8.18 billion. Plains All American Pipeline had a net margin of 2.04% and a return on equity of 12.80%. On average, sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.63 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, October 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.92%. Plains All American Pipeline’s dividend payout ratio is currently 127.66%.

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 in the company, valued at approximately $901,881.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Plains All American Pipeline Company Profile

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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