Brown Advisory Inc. trimmed its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 38.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,337 shares of the pipeline company's stock after selling 20,900 shares during the period. Brown Advisory Inc.'s holdings in Plains All American Pipeline were worth $667,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of PAA. Invesco Ltd. raised its position in Plains All American Pipeline by 4.6% in the fourth quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company's stock worth $475,301,000 after purchasing an additional 1,224,381 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Plains All American Pipeline by 8.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company's stock worth $261,283,000 after purchasing an additional 1,211,286 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its position in Plains All American Pipeline by 0.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 13,321,966 shares of the pipeline company's stock worth $227,539,000 after purchasing an additional 75,509 shares in the last quarter. JPMorgan Chase & Co. raised its position in Plains All American Pipeline by 8.7% in the fourth quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company's stock worth $134,107,000 after purchasing an additional 630,141 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Plains All American Pipeline by 30.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company's stock worth $92,470,000 after buying an additional 1,162,933 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
PAA has been the subject of several recent analyst reports. Wall Street Zen raised shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Plains All American Pipeline in a report on Friday, May 9th. UBS Group set a $25.00 price objective on shares of Plains All American Pipeline and gave the stock a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Finally, Citigroup decreased their price target on shares of Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $20.75.
Get Our Latest Analysis on PAA
Plains All American Pipeline Trading Up 1.1%
Shares of PAA stock traded up $0.21 during trading hours on Friday, reaching $18.96. The company had a trading volume of 1,496,412 shares, compared to its average volume of 3,239,682. The company has a 50 day moving average of $17.72 and a 200 day moving average of $18.54. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of 25.94 and a beta of 0.68. Plains All American Pipeline, L.P. has a 1-year low of $15.58 and a 1-year high of $21.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92.
Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. Plains All American Pipeline's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. On average, equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.
Plains All American Pipeline Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a $0.38 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.52 annualized dividend and a yield of 8.02%. Plains All American Pipeline's dividend payout ratio is currently 163.44%.
Plains All American Pipeline Company Profile
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Free Report)
Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.
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