Telemus Capital LLC reduced its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 9.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,960 shares of the pipeline company’s stock after selling 873 shares during the period. Telemus Capital LLC’s holdings in Plains All American Pipeline, L.P. were worth $209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PAA. Comerica Bank increased its position in Plains All American Pipeline, L.P. by 0.7% in the first quarter. Comerica Bank now owns 8,130 shares of the pipeline company’s stock valued at $239,000 after buying an additional 57 shares during the period. Arcus Capital Partners LLC increased its stake in shares of Plains All American Pipeline, L.P. by 1.2% in the first quarter. Arcus Capital Partners LLC now owns 6,598 shares of the pipeline company’s stock valued at $209,000 after buying an additional 78 shares during the period. Syntal Capital Partners LLC increased its stake in shares of Plains All American Pipeline, L.P. by 1.1% in the first quarter. Syntal Capital Partners LLC now owns 9,132 shares of the pipeline company’s stock valued at $288,000 after buying an additional 100 shares during the period. Cedar Wealth Management LLC increased its stake in shares of Plains All American Pipeline, L.P. by 1.9% in the first quarter. Cedar Wealth Management LLC now owns 9,060 shares of the pipeline company’s stock valued at $286,000 after buying an additional 170 shares during the period. Finally, Endurance Wealth Management Inc. increased its stake in shares of Plains All American Pipeline, L.P. by 0.3% in the first quarter. Endurance Wealth Management Inc. now owns 67,320 shares of the pipeline company’s stock valued at $2,128,000 after buying an additional 175 shares during the period. 44.01% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline, L.P. (PAA) opened at 25.20 on Tuesday. Plains All American Pipeline, L.P. has a 12-month low of $23.21 and a 12-month high of $33.95. The company’s 50-day moving average price is $25.75 and its 200-day moving average price is $28.97. The stock has a market cap of $18.26 billion, a PE ratio of 23.42 and a beta of 0.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last issued its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.26 by $0.05. The business had revenue of $6.08 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Plains All American Pipeline, L.P. had a return on equity of 20.01% and a net margin of 6.66%. The company’s revenue was up 22.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.12) earnings per share. On average, equities analysts expect that Plains All American Pipeline, L.P. will post $1.67 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be given a $0.55 dividend. The ex-dividend date is Thursday, July 27th. This represents a $2.20 annualized dividend and a yield of 8.73%. Plains All American Pipeline, L.P.’s payout ratio is 239.13%.

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Several analysts recently issued reports on the company. Scotiabank set a $36.00 target price on Plains All American Pipeline, L.P. and gave the company a “buy” rating in a research note on Saturday, July 22nd. Jefferies Group LLC reissued a “hold” rating and set a $28.00 target price (up previously from $27.00) on shares of Plains All American Pipeline, L.P. in a research note on Friday, July 21st. Stifel Nicolaus reissued a “hold” rating and set a $30.00 target price on shares of Plains All American Pipeline, L.P. in a research note on Wednesday, July 19th. Barclays PLC raised Plains All American Pipeline, L.P. from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a research note on Tuesday, July 18th. Finally, Deutsche Bank AG downgraded Plains All American Pipeline, L.P. from a “buy” rating to a “hold” rating and decreased their target price for the company from $34.00 to $29.00 in a research note on Thursday, July 13th. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock 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.

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

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