Today, 1,050 Shares of Plains All American Pipeline L.P. (PAA) are sold by Boston Financial Mangement LLC

Today, 1,050 Shares of Plains All American Pipeline L.P. (PAA) are sold by Boston Financial Mangement LLC
Boston Financial Mangement LLC reduced its stake in shares of Plains All American Pipeline L.P. (NYSE:PAA) by 13.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,000 shares of the company’s stock after selling 1,050 shares during the period. Boston Financial Mangement LLC’s holdings in Plains All American Pipeline L.P. were worth $220,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PAA. Alps Advisors Inc. increased its stake in shares of Plains All American Pipeline L.P. by 2.4% in the third quarter. Alps Advisors Inc. now owns 24,132,869 shares of the company’s stock valued at $758,013,000 after buying an additional 565,743 shares in the last quarter. Harvest Fund Advisors LLC increased its stake in shares of Plains All American Pipeline L.P. by 6.2% in the second quarter. Harvest Fund Advisors LLC now owns 15,542,217 shares of the company’s stock valued at $427,256,000 after buying an additional 901,200 shares in the last quarter. Center Coast Capital Advisors LP increased its stake in shares of Plains All American Pipeline L.P. by 2.5% in the second quarter. Center Coast Capital Advisors LP now owns 10,333,567 shares of the company’s stock valued at $284,070,000 after buying an additional 250,733 shares in the last quarter. Chickasaw Capital Management LLC increased its stake in shares of Plains All American Pipeline L.P. by 1.5% in the third quarter. Chickasaw Capital Management LLC now owns 6,086,075 shares of the company’s stock valued at $191,164,000 after buying an additional 88,094 shares in the last quarter. Finally, Advisory Research Inc. increased its stake in shares of Plains All American Pipeline L.P. by 23.7% in the second quarter. Advisory Research Inc. now owns 5,442,028 shares of the company’s stock valued at $149,601,000 after buying an additional 1,044,365 shares in the last quarter. Institutional investors and hedge funds own 66.49% of the company’s stock.

Shares of Plains All American Pipeline L.P. (NYSE:PAA) traded down 1.26% during midday trading on Friday, reaching $31.30. The company’s stock had a trading volume of 130,088 shares. The stock has a market capitalization of $12.93 billion, a P/E ratio of 61.49 and a beta of 0.87. The stock’s 50-day moving average is $31.28 and its 200 day moving average is $28.45. Plains All American Pipeline L.P. has a 12 month low of $14.82 and a 12 month high of $33.00.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, October 31st were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, October 27th. This represents a $2.20 dividend on an annualized basis and a yield of 6.94%. Plains All American Pipeline L.P.’s payout ratio is 431.38%.

Several analysts have recently issued reports on PAA shares. Morgan Stanley upgraded Plains All American Pipeline L.P. from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $33.00 to $37.00 in a research report on Tuesday, October 4th. Wells Fargo & Co. upgraded Plains All American Pipeline L.P. from a “market perform” rating to an “outperform” rating in a research report on Wednesday, October 5th. Howard Weil increased their target price on Plains All American Pipeline L.P. from $28.00 to $36.00 and gave the stock a “sector outperform” rating in a research report on Monday, October 10th. Citigroup Inc. reiterated a “buy” rating and set a $33.50 target price (up from $30.50) on shares of Plains All American Pipeline L.P. in a research report on Tuesday, August 16th. Finally, Scotiabank reiterated a “sector outperform” rating and set a $36.00 target price (up from $28.00) on shares of Plains All American Pipeline L.P. in a research report on Monday, October 10th. Nineteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $29.87.

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. Its Transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

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