Pointe Capital Management LLC cut its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 77,343 shares of the pipeline company’s stock after selling 942 shares during the period. Plains All American Pipeline, L.P. makes up 1.5% of Pointe Capital Management LLC’s portfolio, making the stock its 17th largest position. Pointe Capital Management LLC’s holdings in Plains All American Pipeline, L.P. were worth $2,032,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PAA. Tortoise Capital Advisors L.L.C. raised its stake in shares of Plains All American Pipeline, L.P. by 0.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 33,341,100 shares of the pipeline company’s stock worth $875,871,000 after buying an additional 255,459 shares during the last quarter. Morgan Stanley raised its stake in shares of Plains All American Pipeline, L.P. by 37.2% in the first quarter. Morgan Stanley now owns 14,058,014 shares of the pipeline company’s stock worth $444,373,000 after buying an additional 3,808,889 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its stake in shares of Plains All American Pipeline, L.P. by 0.8% in the first quarter. Kayne Anderson Capital Advisors LP now owns 10,982,925 shares of the pipeline company’s stock worth $347,165,000 after buying an additional 91,200 shares during the last quarter. UBS Group AG raised its stake in shares of Plains All American Pipeline, L.P. by 12.5% in the first quarter. UBS Group AG now owns 9,370,040 shares of the pipeline company’s stock worth $296,187,000 after buying an additional 1,038,051 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Plains All American Pipeline, L.P. by 24.1% in the first quarter. Bank of America Corp DE now owns 8,648,721 shares of the pipeline company’s stock worth $273,386,000 after buying an additional 1,680,480 shares during the last quarter. 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 21.01 on Thursday. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of 19.53 and a beta of 0.95. Plains All American Pipeline, L.P. has a 12 month low of $20.00 and a 12 month high of $33.95. The stock has a 50 day moving average price of $25.66 and a 200 day moving average price of $28.70.

Plains All American Pipeline, L.P. (NYSE:PAA) last issued its earnings results on Monday, August 7th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.05. Plains All American Pipeline, L.P. had a return on equity of 10.46% and a net margin of 4.42%. The company had revenue of $6.08 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same period in the previous year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was up 22.8% on a year-over-year basis. On average, equities analysts expect that Plains All American Pipeline, L.P. will post $1.61 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be given a $0.55 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $2.20 dividend on an annualized basis and a yield of 10.47%. Plains All American Pipeline, L.P.’s payout ratio is 165.41%.

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PAA has been the topic of a number of research analyst reports. Scotia Howard Weill reissued a “sector perform” rating on shares of Plains All American Pipeline, L.P. in a research note on Tuesday. Raymond James Financial, Inc. set a $24.00 price objective on Plains All American Pipeline, L.P. and gave the stock a “buy” rating in a report on Wednesday. Wolfe Research restated a “market perform” rating on shares of Plains All American Pipeline, L.P. in a report on Friday, April 21st. Stifel Nicolaus restated a “hold” rating and issued a $30.00 price objective on shares of Plains All American Pipeline, L.P. in a report on Wednesday, July 19th. Finally, Barclays PLC upgraded Plains All American Pipeline, L.P. from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a report on Tuesday, July 18th. Sixteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $30.19.

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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