Plains All American Pipeline, L.P. (PAA) Shares Bought by Bank of New York Mellon Corp

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Bank of New York Mellon Corp grew its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 3.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 236,127 shares of the pipeline company’s stock after acquiring an additional 8,521 shares during the period. Bank of New York Mellon Corp’s holdings in Plains All American Pipeline were worth $5,904,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Exane Derivatives boosted its holdings in Plains All American Pipeline by 14,250.0% during the third quarter. Exane Derivatives now owns 5,740 shares of the pipeline company’s stock valued at $142,000 after acquiring an additional 5,700 shares during the period. United Asset Strategies Inc. bought a new stake in Plains All American Pipeline during the third quarter valued at about $200,000. Palo Capital Inc. bought a new stake in Plains All American Pipeline during the third quarter valued at about $207,000. MML Investors Services LLC bought a new stake in Plains All American Pipeline during the third quarter valued at about $219,000. Finally, Alpha Cubed Investments LLC bought a new stake in Plains All American Pipeline during the third quarter valued at about $212,000. Institutional investors and hedge funds own 47.20% of the company’s stock.

NYSE:PAA opened at $23.27 on Tuesday. Plains All American Pipeline, L.P. has a 12-month low of $19.33 and a 12-month high of $27.70. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.89 and a quick ratio of 0.71. The stock has a market capitalization of $16.65 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 1.56 and a beta of 1.11.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Tuesday, February 5th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.11. Plains All American Pipeline had a net margin of 6.50% and a return on equity of 19.37%. The firm had revenue of $8.79 billion during the quarter, compared to analyst estimates of $9.92 billion. During the same quarter in the prior year, the business posted $0.26 earnings per share. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities analysts predict that Plains All American Pipeline, L.P. will post 1.88 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Thursday, January 31st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 5.16%. The ex-dividend date is Wednesday, January 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 63.83%.

A number of equities research analysts have issued reports on PAA shares. Goldman Sachs Group upgraded shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating in a report on Wednesday, January 2nd. Wolfe Research upgraded shares of Plains All American Pipeline from an “underperform” rating to a “peer perform” rating in a report on Monday, November 26th. Morgan Stanley set a $30.00 price target on shares of Plains All American Pipeline and gave the company a “buy” rating in a report on Wednesday, November 7th. Jefferies Financial Group upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. Finally, ValuEngine cut shares of Plains All American Pipeline from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $28.25.

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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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