Hourglass Capital LLC bought a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 10,825 shares of the pipeline company’s stock, valued at approximately $271,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Centaurus Financial Inc. bought a new position in shares of Plains All American Pipeline during the 2nd quarter worth about $109,000. Exane Derivatives increased its holdings in shares of Plains All American Pipeline by 14,250.0% during the 3rd quarter. Exane Derivatives now owns 5,740 shares of the pipeline company’s stock worth $142,000 after purchasing an additional 5,700 shares during the period. Stuart Chaussee & Associates Inc. bought a new position in shares of Plains All American Pipeline during the 2nd quarter worth about $162,000. United Asset Strategies Inc. bought a new position in shares of Plains All American Pipeline during the 3rd quarter worth about $200,000. Finally, Palo Capital Inc. bought a new position in shares of Plains All American Pipeline during the 3rd quarter worth about $207,000. 47.15% of the stock is owned by hedge funds and other institutional investors.

NYSE PAA opened at $22.03 on Monday. The stock has a market capitalization of $16.00 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 1.49 and a beta of 0.91. Plains All American Pipeline, L.P. has a twelve month low of $18.38 and a twelve month high of $27.70. The company has a current ratio of 0.89, a quick ratio of 0.71 and a debt-to-equity ratio of 1.01.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Tuesday, November 6th. The pipeline company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.06. The business had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $7.82 billion. Plains All American Pipeline had a net margin of 3.92% and a return on equity of 14.72%. The firm’s revenue for the quarter was up 49.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 earnings per share. As a group, research analysts anticipate that Plains All American Pipeline, L.P. will post 1.9 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $1.20 dividend on an annualized basis and a yield of 5.45%. Plains All American Pipeline’s payout ratio is currently 127.66%.

Several research firms have recently issued reports on PAA. TheStreet upgraded shares of Plains All American Pipeline from a “c+” rating to a “b-” rating in a report on Wednesday, November 7th. Morgan Stanley set a $30.00 price objective on shares of Plains All American Pipeline and gave the stock a “buy” rating in a report on Wednesday, November 7th. ValuEngine downgraded shares of Plains All American Pipeline from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Zacks Investment Research downgraded shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Credit Suisse Group began coverage on shares of Plains All American Pipeline in a report on Thursday, October 11th. They set an “outperform” rating and a $30.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $27.88.

In related news, VP Chris Herbold sold 10,591 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $26.35, for a total value of $279,072.85. Following the sale, the vice president now owns 34,227 shares of the company’s stock, valued at $901,881.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

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Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

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

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