Trading Report: Today, Cohen Capital Management Inc. Maintains Position in Plains All American Pipeline L.P. (PAA)

Today, Cohen Capital Management Inc. Maintains Position in Plains All American Pipeline L.P. (PAA)

Cohen Capital Management Inc. maintained its position in shares of Plains All American Pipeline L.P. (NYSE:PAA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,862 shares of the company’s stock at the end of the third quarter. Cohen Capital Management Inc.’s holdings in Plains All American Pipeline L.P. were worth $3,105,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. MCF Advisors LLC increased its position in shares of Plains All American Pipeline L.P. by 2.4% in the second quarter. MCF Advisors LLC now owns 3,714 shares of the company’s stock worth $102,000 after buying an additional 87 shares during the last quarter. Financial Architects Inc increased its position in shares of Plains All American Pipeline L.P. by 88.2% in the second quarter. Financial Architects Inc now owns 4,117 shares of the company’s stock worth $113,000 after buying an additional 1,930 shares during the last quarter. Advisory Services Network LLC increased its position in shares of Plains All American Pipeline L.P. by 31.7% in the third quarter. Advisory Services Network LLC now owns 4,162 shares of the company’s stock worth $131,000 after buying an additional 1,002 shares during the last quarter. Sunbelt Securities Inc. increased its position in shares of Plains All American Pipeline L.P. by 115.9% in the second quarter. Sunbelt Securities Inc. now owns 4,831 shares of the company’s stock worth $133,000 after buying an additional 2,593 shares during the last quarter. Finally, Westbourne Investment Advisors Inc. acquired a new position in shares of Plains All American Pipeline L.P. during the second quarter worth approximately $146,000. 68.16% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline L.P. (NYSE:PAA) traded down 3.63% during midday trading on Monday, hitting $29.99. 2,395,374 shares of the stock traded hands. Plains All American Pipeline L.P. has a one year low of $14.82 and a one year high of $33.00. The company has a 50-day moving average price of $31.23 and a 200 day moving average price of $28.63. The stock has a market cap of $12.38 billion, a price-to-earnings ratio of 58.92 and a beta of 0.87.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were issued a $0.55 dividend. The ex-dividend date was Thursday, October 27th. This represents a $2.20 annualized dividend and a dividend yield of 7.34%. Plains All American Pipeline L.P.’s dividend payout ratio is currently 431.38%.

A number of analysts recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of Plains All American Pipeline L.P. from $22.00 to $29.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 17th. Zacks Investment Research raised shares of Plains All American Pipeline L.P. from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Wednesday, October 26th. Howard Weil assumed coverage on shares of Plains All American Pipeline L.P. in a research report on Thursday, August 25th. They issued a “sector perform” rating on the stock. Scotiabank reissued a “sector perform” rating on shares of Plains All American Pipeline L.P. in a research report on Friday, August 26th. Finally, Morgan Stanley raised shares of Plains All American Pipeline L.P. from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $33.00 to $37.00 in a research report on Tuesday, October 4th. Nineteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $29.87.

About Plains All American Pipeline L.P.

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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