Northern Trust Corp Sells 239,566 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Northern Trust Corp trimmed its stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 31.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 520,261 shares of the pipeline company's stock after selling 239,566 shares during the quarter. Northern Trust Corp owned 0.07% of Plains All American Pipeline worth $8,886,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new stake in Plains All American Pipeline in the fourth quarter worth $27,000. National Bank of Canada FI bought a new position in shares of Plains All American Pipeline during the fourth quarter valued at $27,000. Jones Financial Companies Lllp lifted its holdings in shares of Plains All American Pipeline by 1,684.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company's stock valued at $61,000 after purchasing an additional 3,368 shares in the last quarter. CoreFirst Bank & Trust bought a new position in shares of Plains All American Pipeline during the fourth quarter valued at $97,000. Finally, Rothschild Investment LLC lifted its holdings in shares of Plains All American Pipeline by 66.7% during the fourth quarter. Rothschild Investment LLC now owns 9,500 shares of the pipeline company's stock valued at $162,000 after purchasing an additional 3,800 shares in the last quarter. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Stock Down 0.2%

PAA stock opened at $17.25 on Monday. Plains All American Pipeline, L.P. has a fifty-two week low of $15.58 and a fifty-two week high of $21.00. The business's 50-day moving average is $18.13 and its two-hundred day moving average is $18.46. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The company has a market cap of $12.14 billion, a price-to-earnings ratio of 23.63 and a beta of 0.70.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its 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 net margin of 1.54% and a return on equity of 11.69%. During the same period in the prior year, the company posted $0.41 earnings per share. The firm's quarterly revenue was up .1% on a year-over-year basis. As a group, analysts forecast that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.81%. The ex-dividend date was Thursday, May 1st. Plains All American Pipeline's dividend payout ratio is 163.44%.

Analysts Set New Price Targets

PAA has been the topic of a number of research analyst reports. StockNews.com downgraded Plains All American Pipeline from a "buy" rating to a "hold" rating in a report on Monday, May 12th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $20.00 price target on shares of Plains All American Pipeline in a report on Friday. UBS Group reaffirmed a "buy" rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Raymond James reaffirmed a "strong-buy" rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $20.50.

Plains All American Pipeline Company Profile

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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