Duff & Phelps Investment Management Co. maintained its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the second quarter, Holdings Channel reports. The fund owned 2,034,610 shares of the pipeline company’s stock at the end of the second quarter. Duff & Phelps Investment Management Co.’s holdings in Plains All American Pipeline, L.P. were worth $53,449,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in PAA. TradeLink Capital LLC bought a new stake in shares of Plains All American Pipeline, L.P. during the second quarter worth approximately $804,000. Global X Management Co. LLC boosted its stake in shares of Plains All American Pipeline, L.P. by 121.7% in the second quarter. Global X Management Co. LLC now owns 1,755,868 shares of the pipeline company’s stock worth $46,127,000 after buying an additional 963,750 shares during the period. Tortoise Capital Advisors L.L.C. boosted 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 period. Hodges Capital Management Inc. boosted its stake in shares of Plains All American Pipeline, L.P. by 4.3% in the second quarter. Hodges Capital Management Inc. now owns 16,950 shares of the pipeline company’s stock worth $445,000 after buying an additional 701 shares during the period. Finally, Beach Investment Management LLC. boosted its stake in shares of Plains All American Pipeline, L.P. by 532.6% in the second quarter. Beach Investment Management LLC. now owns 119,050 shares of the pipeline company’s stock worth $3,127,000 after buying an additional 100,232 shares during the period. Hedge funds and other institutional investors own 44.01% of the company’s stock.

Plains All American Pipeline, L.P. (PAA) opened at 20.40 on Friday. The company has a 50 day moving average price of $25.48 and a 200 day moving average price of $28.57. The stock has a market capitalization of $14.79 billion, a price-to-earnings ratio of 15.74 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.

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 analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.50 billion. Plains All American Pipeline, L.P. had a net margin of 4.42% and a return on equity of 10.14%. The company’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period last year, the business earned ($0.12) EPS. Equities research analysts predict that Plains All American Pipeline, L.P. will post $1.61 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders 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 10.78%. The ex-dividend date of this dividend is Thursday, July 27th. Plains All American Pipeline, L.P.’s dividend payout ratio (DPR) is currently 165.41%.

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A number of research analysts have weighed in on PAA shares. BidaskClub lowered Plains All American Pipeline, L.P. from a “hold” rating to a “sell” rating in a research note on Thursday. Citigroup Inc. reissued a “buy” rating and set a $28.00 price target (down previously from $33.50) on shares of Plains All American Pipeline, L.P. in a research note on Thursday. Barclays PLC reissued a “buy” rating and set a $28.00 price target on shares of Plains All American Pipeline, L.P. in a research note on Wednesday. Raymond James Financial, Inc. set a $24.00 price target on Plains All American Pipeline, L.P. and gave the stock a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley lowered Plains All American Pipeline, L.P. from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $32.00 to $25.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. Plains All American Pipeline, L.P. currently has an average rating of “Hold” and a consensus target price 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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