Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp cut its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,500 shares of the pipeline company’s stock after selling 500 shares during the quarter. Boston Trust Walden Corp’s holdings in Plains All American Pipeline were worth $299,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PAA. JPMorgan Chase & Co. lifted its stake in Plains All American Pipeline by 58.9% in the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after buying an additional 2,677,951 shares during the last quarter. Chickasaw Capital Management LLC increased its holdings in shares of Plains All American Pipeline by 1.0% in the 3rd quarter. Chickasaw Capital Management LLC now owns 4,140,089 shares of the pipeline company’s stock valued at $71,913,000 after acquiring an additional 42,383 shares during the period. Citigroup Inc. raised its position in Plains All American Pipeline by 48.9% in the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock valued at $59,560,000 after purchasing an additional 1,125,386 shares during the last quarter. Barclays PLC boosted its stake in Plains All American Pipeline by 1.6% during the 3rd quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock worth $34,885,000 after purchasing an additional 32,061 shares during the period. Finally, ING Groep NV grew its position in Plains All American Pipeline by 29.1% during the 3rd quarter. ING Groep NV now owns 1,321,937 shares of the pipeline company’s stock worth $22,962,000 after purchasing an additional 297,937 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

PAA opened at $20.10 on Wednesday. The stock’s 50 day simple moving average is $18.47 and its 200 day simple moving average is $17.86. The stock has a market cap of $14.14 billion, a P/E ratio of 17.95 and a beta of 1.65. Plains All American Pipeline, L.P. has a 1-year low of $15.02 and a 1-year high of $21.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The business had revenue of $12.74 billion during the quarter, compared to analysts’ expectations of $13.09 billion. During the same quarter last year, the business posted $0.35 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.17 EPS for the current fiscal year.

Plains All American Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.56%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio is 135.71%.

Analyst Ratings Changes

A number of brokerages have recently commented on PAA. Bank of America began coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price for the company. Scotiabank reiterated a “sector outperform” rating and issued a $23.00 target price on shares of Plains All American Pipeline in a research note on Friday, January 10th. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Barclays lifted their price objective on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Finally, Raymond James upped their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.21.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.