Plains All American Pipeline, L.P. (NYSE:PAA) Shares Bought by Zimmer Partners LP

Zimmer Partners LP increased its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,022,386 shares of the pipeline company’s stock after purchasing an additional 16,558 shares during the quarter. Zimmer Partners LP owned 0.14% of Plains All American Pipeline worth $9,304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Community Bank N.A. acquired a new position in Plains All American Pipeline in the 1st quarter worth about $27,000. Interactive Financial Advisors raised its holdings in shares of Plains All American Pipeline by 70.7% during the first quarter. Interactive Financial Advisors now owns 3,224 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 1,335 shares during the last quarter. Green Harvest Asset Management LLC acquired a new position in shares of Plains All American Pipeline during the first quarter valued at approximately $50,000. Fieldpoint Private Securities LLC raised its holdings in shares of Plains All American Pipeline by 41.7% during the first quarter. Fieldpoint Private Securities LLC now owns 5,844 shares of the pipeline company’s stock valued at $53,000 after acquiring an additional 1,719 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Plains All American Pipeline by 211.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,236 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 4,236 shares during the last quarter. 44.91% of the stock is owned by institutional investors.

NYSE:PAA traded down $0.14 during midday trading on Thursday, reaching $9.99. The company had a trading volume of 21,724 shares, compared to its average volume of 4,112,593. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 7.84 and a beta of 2.32. The business’s fifty day simple moving average is $10.98. Plains All American Pipeline, L.P. has a 12-month low of $5.26 and a 12-month high of $12.38. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.95 and a quick ratio of 0.84.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Monday, May 3rd. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. Plains All American Pipeline had a return on equity of 14.62% and a net margin of 2.69%. The firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $6.86 billion. During the same period last year, the business posted $0.55 earnings per share. Plains All American Pipeline’s revenue was up 1.4% compared to the same quarter last year. As a group, equities research analysts predict that Plains All American Pipeline, L.P. will post 1.27 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 13th. Shareholders of record on Friday, July 30th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date is Thursday, July 29th. Plains All American Pipeline’s dividend payout ratio is presently 46.45%.

A number of equities analysts have commented on PAA shares. Mizuho increased their target price on Plains All American Pipeline from $13.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, June 9th. Morgan Stanley raised Plains All American Pipeline from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a report on Friday, July 16th. Zacks Investment Research raised Plains All American Pipeline from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a report on Tuesday. TD Securities cut their price target on Plains All American Pipeline from $13.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, May 5th. Finally, Wells Fargo & Company increased their price target on Plains All American Pipeline from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Thursday, June 24th. One analyst has rated the stock with a hold rating, nine have given 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 “Buy” and a consensus price target of $21.80.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through 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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