Cullen Frost Bankers Inc. cut its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,630 shares of the pipeline company’s stock after selling 1,439 shares during the period. Cullen Frost Bankers Inc.’s holdings in Plains All American Pipeline, L.P. were worth $4,062,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Founders Capital Management bought a new stake in Plains All American Pipeline, L.P. during the first quarter worth $101,000. Trust Co. of Vermont increased 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 worth $107,000 after buying an additional 3,150 shares during the last quarter. Parkside Financial Bank & Trust increased 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 worth $134,000 after buying an additional 800 shares during the last quarter. Advisory Services Network LLC bought a new stake in Plains All American Pipeline, L.P. during the first quarter worth $139,000. Finally, Princeton Portfolio Strategies Group LLC bought a new stake in Plains All American Pipeline, L.P. during the first quarter worth $153,000. Institutional investors own 44.01% of the company’s stock.

Plains All American Pipeline, L.P. (NYSE PAA) opened at 25.62 on Monday. Plains All American Pipeline, L.P. has a 12-month low of $23.21 and a 12-month 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 firm’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 released its quarterly earnings data on Monday, May 8th. The pipeline company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.09. The company had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $5.34 billion. Plains All American Pipeline, L.P. had a net margin of 4.26% and a return on equity of 9.52%. The business’s revenue for the quarter was up 62.2% compared to the same quarter last year. During the same period last year, the company posted $0.45 EPS. On average, equities analysts expect 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. Stockholders of record on Monday, July 31st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 8.59%. The ex-dividend date is Thursday, July 27th. Plains All American Pipeline, L.P.’s dividend payout ratio (DPR) is presently 239.13%.

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PAA has been the topic of a number of research analyst reports. Scotiabank restated a “buy” rating and issued a $36.00 price target on shares of Plains All American Pipeline, L.P. in a research note on Thursday, April 27th. Deutsche Bank AG reduced 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 research note on Tuesday, May 30th. UBS AG restated 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 research note on Wednesday, May 10th. Mizuho upgraded 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 research note on Monday, July 10th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $27.00 price target on shares of Plains All American Pipeline, L.P. in a research note on Friday, June 23rd. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $32.83.

About Plains All American Pipeline, L.P.

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.

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

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