WealthTrust Axiom LLC cut its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 8.8% during the second quarter, Holdings Channel reports. The institutional investor owned 20,500 shares of the pipeline company’s stock after selling 1,976 shares during the period. WealthTrust Axiom LLC’s holdings in Plains All American Pipeline, L.P. were worth $538,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Founders Capital Management bought a new stake in Plains All American Pipeline, L.P. during the first quarter valued at about $101,000. Trust Co. of Vermont boosted its stake in Plains All American Pipeline, L.P. by 1,260.0% in the first quarter. Trust Co. of Vermont now owns 3,400 shares of the pipeline company’s stock valued at $107,000 after buying an additional 3,150 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Plains All American Pipeline, L.P. by 23.3% in the first quarter. Parkside Financial Bank & Trust now owns 4,228 shares of the pipeline company’s stock valued at $134,000 after buying an additional 800 shares in the last quarter. Advisory Services Network LLC bought a new stake in Plains All American Pipeline, L.P. during the first quarter valued at about $139,000. Finally, Princeton Portfolio Strategies Group LLC bought a new stake in Plains All American Pipeline, L.P. during the first quarter valued at about $153,000. 44.01% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline, L.P. (NYSE PAA) opened at 25.62 on Monday. Plains All American Pipeline, L.P. has a 52-week low of $23.21 and a 52-week high of $33.95. The company has a market cap of $18.57 billion, a price-to-earnings ratio of 23.81 and a beta of 0.95. The stock’s 50 day moving average is $25.75 and its 200 day moving average is $28.97.

Plains All American Pipeline, L.P. (NYSE:PAA) last issued its earnings results on Monday, May 8th. The pipeline company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.36 by $0.09. The firm had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $5.34 billion. Plains All American Pipeline, L.P. had a return on equity of 9.52% and a net margin of 4.26%. The firm’s revenue for the quarter was up 62.2% compared to the same quarter last year. During the same period last year, the business earned $0.45 earnings per share. On average, analysts predict that Plains All American Pipeline, L.P. will post $1.67 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 8.59%. Plains All American Pipeline, L.P.’s payout ratio is presently 239.13%.

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Several analysts recently issued reports on PAA shares. Scotiabank reaffirmed a “buy” rating and issued a $36.00 price target on shares of Plains All American Pipeline, L.P. in a report on Thursday, April 27th. Deutsche Bank AG cut their price target on shares of Plains All American Pipeline, L.P. from $39.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, May 30th. UBS AG reaffirmed a “buy” rating and issued a $33.00 price target (down from $34.00) on shares of Plains All American Pipeline, L.P. in a report on Wednesday, May 10th. Mizuho raised shares of Plains All American Pipeline, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Monday, July 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $27.00 price target on shares of Plains All American Pipeline, L.P. in a report on Friday, June 23rd. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Plains All American Pipeline, L.P. currently has a consensus rating of “Buy” and a consensus price target of $32.83.

Plains All American Pipeline, L.P. Company Profile

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

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Institutional Ownership by Quarter for Plains All American Pipeline, L.P. (NYSE:PAA)

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