Plains All American Pipeline, L.P. (NYSE:PAA) Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. raised its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 8.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,158 shares of the pipeline company’s stock after acquiring an additional 11,361 shares during the period. Cullen Frost Bankers Inc.’s holdings in Plains All American Pipeline were worth $2,929,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen Asset Management LLC grew its stake in Plains All American Pipeline by 69,956.9% in the second quarter. Nuveen Asset Management LLC now owns 6,103,360 shares of the pipeline company’s stock valued at $142,098,000 after purchasing an additional 6,094,648 shares in the last quarter. Invesco Ltd. grew its stake in Plains All American Pipeline by 1,336.6% in the second quarter. Invesco Ltd. now owns 4,233,971 shares of the pipeline company’s stock valued at $103,096,000 after purchasing an additional 3,939,254 shares in the last quarter. Wells Fargo & Company MN grew its stake in Plains All American Pipeline by 119.1% in the second quarter. Wells Fargo & Company MN now owns 4,839,716 shares of the pipeline company’s stock valued at $117,848,000 after purchasing an additional 2,631,293 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in Plains All American Pipeline by 5.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 39,904,482 shares of the pipeline company’s stock valued at $971,674,000 after purchasing an additional 2,014,541 shares in the last quarter. Finally, Chickasaw Capital Management LLC grew its stake in Plains All American Pipeline by 19.1% in the second quarter. Chickasaw Capital Management LLC now owns 9,784,469 shares of the pipeline company’s stock valued at $238,252,000 after purchasing an additional 1,572,459 shares in the last quarter. 50.46% of the stock is currently owned by institutional investors.

Shares of NYSE PAA traded down $0.16 during trading hours on Friday, hitting $18.19. 70,368 shares of the company’s stock were exchanged, compared to its average volume of 3,157,809. Plains All American Pipeline, L.P. has a 1-year low of $17.78 and a 1-year high of $25.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.00 and a quick ratio of 0.87. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of 9.69 and a beta of 1.01. The company’s 50-day moving average price is $19.69 and its 200-day moving average price is $22.36.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.13. Plains All American Pipeline had a return on equity of 21.31% and a net margin of 8.95%. The business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter in the previous year, the firm earned $0.43 EPS. The firm’s revenue was down 10.3% compared to the same quarter last year. On average, research analysts expect that Plains All American Pipeline, L.P. will post 2.35 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.44 annualized dividend and a dividend yield of 7.92%. Plains All American Pipeline’s dividend payout ratio is presently 76.60%.

PAA has been the subject of several recent analyst reports. Stifel Nicolaus set a $25.00 price target on Plains All American Pipeline and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Piper Jaffray Companies initiated coverage on Plains All American Pipeline in a research note on Wednesday, July 17th. They set an “overweight” rating and a $31.00 price target for the company. TheStreet downgraded Plains All American Pipeline from a “b-” rating to a “c+” rating in a research note on Tuesday, October 8th. Scotiabank initiated coverage on Plains All American Pipeline in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $28.00 price target for the company. Finally, Bank of America decreased their price target on Plains All American Pipeline from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $26.73.

In related news, VP Chris Herbold sold 23,337 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $21.38, for a total transaction of $498,945.06. Following the completion of the transaction, the vice president now owns 79,564 shares of the company’s stock, valued at approximately $1,701,078.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

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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