Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Northern Trust Corp

Northern Trust Corp reduced its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 31.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 520,261 shares of the pipeline company's stock after selling 239,566 shares during the period. Northern Trust Corp owned about 0.07% of Plains All American Pipeline worth $8,886,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAA. Beacon Pointe Advisors LLC boosted its holdings in Plains All American Pipeline by 14.2% in the fourth quarter. Beacon Pointe Advisors LLC now owns 74,084 shares of the pipeline company's stock valued at $1,265,000 after purchasing an additional 9,235 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Plains All American Pipeline during the 4th quarter worth approximately $7,330,000. Kovitz Investment Group Partners LLC boosted its holdings in shares of Plains All American Pipeline by 4.1% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 697,262 shares of the pipeline company's stock valued at $11,909,000 after buying an additional 27,491 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Plains All American Pipeline by 19.5% in the fourth quarter. Stifel Financial Corp now owns 275,728 shares of the pipeline company's stock valued at $4,709,000 after acquiring an additional 44,999 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Plains All American Pipeline by 75.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 19,553 shares of the pipeline company's stock worth $334,000 after acquiring an additional 8,414 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company's stock.

Wall Street Analysts Forecast Growth

PAA has been the subject of a number of recent research reports. Morgan Stanley reiterated an "equal weight" rating and set a $23.00 price target on shares of Plains All American Pipeline in a research note on Friday, May 9th. Mizuho lowered their price target on Plains All American Pipeline from $21.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday. Scotiabank reduced their price objective on Plains All American Pipeline from $21.00 to $20.00 and set a "sector outperform" rating for the company in a research note on Monday, May 12th. Wall Street Zen raised Plains All American Pipeline from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, 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 research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.45.

Plains All American Pipeline Trading Up 0.7%

Shares of NYSE:PAA traded up $0.12 during midday trading on Friday, reaching $16.74. The company's stock had a trading volume of 1,560,937 shares, compared to its average volume of 3,105,713. The firm has a market cap of $11.77 billion, a price-to-earnings ratio of 22.93 and a beta of 0.70. The business has a 50 day moving average price of $17.84 and a 200 day moving average price of $18.44. 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 quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.39 EPS 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 quarter last year, the company posted $0.41 EPS. The company's quarterly revenue was up .1% compared to the same quarter last year. Research analysts forecast that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 9.08%. The ex-dividend date was Thursday, May 1st. Plains All American Pipeline's dividend payout ratio is currently 163.44%.

About Plains All American Pipeline

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.