BNP Paribas Financial Markets Trims Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

BNP Paribas Financial Markets reduced its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,214,335 shares of the pipeline company’s stock after selling 7,659 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.32% of Plains All American Pipeline worth $38,463,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in Plains All American Pipeline in the 3rd quarter valued at about $28,000. ORG Partners LLC boosted its holdings in shares of Plains All American Pipeline by 78.5% in the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 730 shares during the period. Sunbelt Securities Inc. grew its stake in Plains All American Pipeline by 53.2% in the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after purchasing an additional 1,318 shares in the last quarter. American National Bank increased its holdings in Plains All American Pipeline by 249.2% during the 2nd quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock worth $78,000 after purchasing an additional 3,110 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in Plains All American Pipeline by 31.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock valued at $80,000 after purchasing an additional 1,060 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PAA. Bank of America initiated coverage on Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a report on Friday, November 15th. Finally, Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $22.00 to $19.00 in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Plains All American Pipeline currently has an average rating of “Hold” and an average target price of $19.82.

Plains All American Pipeline Stock Up 2.4 %

PAA stock opened at $18.09 on Friday. The stock has a market capitalization of $12.73 billion, a PE ratio of 16.15 and a beta of 1.61. Plains All American Pipeline, L.P. has a 52 week low of $14.46 and a 52 week high of $19.17. 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 firm has a 50 day moving average of $17.38 and a 200 day moving average of $17.54.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The business had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the previous year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.27 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.02%. The ex-dividend date of this dividend was Thursday, October 31st. Plains All American Pipeline’s payout ratio is 113.39%.

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.