Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 20.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,099 shares of the pipeline company's stock after selling 41,044 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Plains All American Pipeline were worth $3,122,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its stake in Plains All American Pipeline by 107.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock worth $26,000 after purchasing an additional 657 shares in the last quarter. Capital Advisory Group Advisory Services LLC lifted its position in Plains All American Pipeline by 2.5% during the first quarter. Capital Advisory Group Advisory Services LLC now owns 28,450 shares of the pipeline company's stock worth $569,000 after buying an additional 685 shares in the last quarter. Prossimo Advisors LLC lifted its position in Plains All American Pipeline by 6.6% during the first quarter. Prossimo Advisors LLC now owns 12,343 shares of the pipeline company's stock worth $247,000 after buying an additional 764 shares in the last quarter. Financial Sense Advisors Inc. boosted its stake in Plains All American Pipeline by 4.8% during the first quarter. Financial Sense Advisors Inc. now owns 16,793 shares of the pipeline company's stock worth $336,000 after buying an additional 766 shares during the last quarter. Finally, Clarus Group Inc. grew its holdings in Plains All American Pipeline by 0.9% in the 1st quarter. Clarus Group Inc. now owns 92,330 shares of the pipeline company's stock valued at $1,847,000 after buying an additional 803 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PAA shares. Barclays reaffirmed an "underweight" rating and issued a $18.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 9th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. UBS Group set a $25.00 price target on shares of Plains All American Pipeline and gave the company a "buy" rating in a research note on Tuesday, July 15th. Wells Fargo & Company downgraded shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a report on Friday, May 9th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $23.00 price objective 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, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $20.75.

Plains All American Pipeline Trading Up 0.1%

PAA opened at $17.87 on Friday. Plains All American Pipeline, L.P. has a 52 week low of $15.57 and a 52 week 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. The business has a fifty day simple moving average of $18.16 and a 200-day simple moving average of $18.52. The firm has a market cap of $12.57 billion, a P/E ratio of 24.48 and a beta of 0.73.

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 (EPS) for the quarter, missing the consensus estimate 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%. The business's quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. On average, equities analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be issued a $0.38 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.5%. Plains All American Pipeline's payout ratio is 163.44%.

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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