Clinton Group Inc. Purchases New Holdings in Plains All American Pipeline, L.P. (PAA)

Clinton Group Inc. purchased a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 17,793 shares of the pipeline company’s stock, valued at approximately $445,000.

Several other hedge funds also recently bought and sold shares of the stock. HRT Financial LLC acquired a new stake in shares of Plains All American Pipeline during the second quarter worth approximately $808,000. Green Square Capital LLC boosted its holdings in shares of Plains All American Pipeline by 1.0% during the second quarter. Green Square Capital LLC now owns 217,384 shares of the pipeline company’s stock worth $5,139,000 after purchasing an additional 2,105 shares during the period. Global X Management Co LLC boosted its holdings in shares of Plains All American Pipeline by 38.5% during the second quarter. Global X Management Co LLC now owns 2,932,898 shares of the pipeline company’s stock worth $69,334,000 after purchasing an additional 816,014 shares during the period. Tiedemann Advisors LLC boosted its holdings in shares of Plains All American Pipeline by 638.7% during the second quarter. Tiedemann Advisors LLC now owns 498,517 shares of the pipeline company’s stock worth $11,784,000 after purchasing an additional 431,034 shares during the period. Finally, Centaurus Financial Inc. acquired a new stake in shares of Plains All American Pipeline during the second quarter worth approximately $109,000. Institutional investors and hedge funds own 45.88% of the company’s stock.

In other news, VP Chris Herbold sold 10,591 shares of Plains All American Pipeline stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $26.35, for a total value of $279,072.85. Following the transaction, 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 available at the SEC website. Company insiders own 1.10% of the company’s stock.

Several analysts recently commented on PAA shares. Stifel Nicolaus upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating and raised their price target for the stock from $26.00 to $28.00 in a report on Sunday, September 23rd. Johnson Rice began coverage on shares of Plains All American Pipeline in a report on Thursday, September 13th. They set a “buy” rating and a $31.00 price target for the company. Zacks Investment Research upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, July 12th. Morgan Stanley set a $28.00 target price on shares of Plains All American Pipeline and gave the company a “buy” rating in a research note on Friday, September 14th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $29.00 target price on shares of Plains All American Pipeline in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. Plains All American Pipeline currently has a consensus rating of “Buy” and an average price target of $27.75.

NYSE PAA opened at $24.37 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.75 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $18.15 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 1.97 and a beta of 0.81. Plains All American Pipeline, L.P. has a 12-month low of $18.38 and a 12-month high of $27.70.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Tuesday, August 7th. The pipeline company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.15. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.18 billion. Plains All American Pipeline had a net margin of 2.04% and a return on equity of 12.80%. As a group, analysts anticipate that Plains All American Pipeline, L.P. will post 1.63 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend is Tuesday, October 30th. Plains All American Pipeline’s dividend payout ratio is 127.66%.

About Plains All American Pipeline

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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