Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 330,000 shares of the pipeline company’s stock after buying an additional 7,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Plains All American Pipeline were worth $6,993,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Center Coast Capital Advisors LP boosted its stake in Plains All American Pipeline by 13.0% in the 3rd quarter. Center Coast Capital Advisors LP now owns 9,155,804 shares of the pipeline company’s stock worth $194,011,000 after purchasing an additional 1,056,634 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Plains All American Pipeline by 11.8% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 133,220 shares of the pipeline company’s stock worth $2,823,000 after purchasing an additional 14,090 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Plains All American Pipeline by 91.1% in the 3rd quarter. CIBC Asset Management Inc now owns 24,517 shares of the pipeline company’s stock worth $520,000 after purchasing an additional 11,685 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Plains All American Pipeline by 620.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 232,425 shares of the pipeline company’s stock worth $4,925,000 after purchasing an additional 200,174 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC boosted its stake in Plains All American Pipeline by 2.4% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 1,797,261 shares of the pipeline company’s stock worth $38,084,000 after purchasing an additional 41,393 shares in the last quarter. Hedge funds and other institutional investors own 43.44% of the company’s stock.

In other news, VP Chris Herbold sold 10,171 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $20.25, for a total transaction of $205,962.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

A number of brokerages recently issued reports on PAA. Raymond James Financial set a $24.00 price target on shares of Plains All American Pipeline and gave the stock a “buy” rating in a research note on Wednesday, August 9th. BidaskClub cut shares of Plains All American Pipeline from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Stifel Nicolaus decreased their target price on Plains All American Pipeline from $30.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, August 8th. Howard Weil lowered Plains All American Pipeline from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, August 8th. Finally, Citigroup reissued a “buy” rating and issued a $28.00 target price (down previously from $33.50) on shares of Plains All American Pipeline in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Plains All American Pipeline has an average rating of “Hold” and a consensus target price of $27.52.

Plains All American Pipeline, L.P. (NYSE PAA) traded up $0.06 during midday trading on Wednesday, hitting $18.73. 3,713,200 shares of the stock traded hands, compared to its average volume of 2,715,557. Plains All American Pipeline, L.P. has a 12-month low of $18.59 and a 12-month high of $33.95. The stock has a market cap of $13,580.00, a price-to-earnings ratio of 22.80 and a beta of 1.02. The company has a quick ratio of 0.78, a current ratio of 1.00 and a debt-to-equity ratio of 1.20.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). Plains All American Pipeline had a net margin of 3.22% and a return on equity of 9.06%. The business had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $6.24 billion. During the same period in the previous year, the company earned $0.39 EPS. Plains All American Pipeline’s revenue for the quarter was up 13.6% compared to the same quarter last year. analysts forecast that Plains All American Pipeline, L.P. will post 1.14 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.41%. The ex-dividend date of this dividend was Monday, October 30th. Plains All American Pipeline’s payout ratio is currently 255.81%.

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Plains All American Pipeline 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.

Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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