MCF Advisors LLC Takes $40,000 Position in Plains All American Pipeline, L.P. (NYSE:PAA)

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MCF Advisors LLC purchased a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,635 shares of the pipeline company’s stock, valued at approximately $40,000.

Several other hedge funds have also recently added to or reduced their stakes in PAA. Pennsylvania Trust Co acquired a new stake in shares of Plains All American Pipeline in the 1st quarter worth $1,891,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Plains All American Pipeline in the 1st quarter worth $3,695,000. Northern Oak Wealth Management Inc. acquired a new stake in shares of Plains All American Pipeline in the 1st quarter worth $272,000. Duff & Phelps Investment Management Co. boosted its position in shares of Plains All American Pipeline by 5.8% in the 1st quarter. Duff & Phelps Investment Management Co. now owns 2,406,410 shares of the pipeline company’s stock worth $58,981,000 after purchasing an additional 132,110 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Plains All American Pipeline by 13.0% in the 1st quarter. Creative Planning now owns 68,730 shares of the pipeline company’s stock worth $1,685,000 after purchasing an additional 7,889 shares in the last quarter. Institutional investors and hedge funds own 49.29% of the company’s stock.

PAA has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price objective on Plains All American Pipeline to $27.00 and set a “sector perform” rating for the company in a research report on Friday, June 14th. Stifel Nicolaus set a $25.00 price objective on Plains All American Pipeline and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Piper Jaffray Companies initiated coverage on Plains All American Pipeline in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $31.00 target price for the company. Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating in a research note on Thursday, June 13th. Finally, ValuEngine lowered Plains All American Pipeline from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. Plains All American Pipeline has a consensus rating of “Buy” and a consensus price target of $28.50.

In related news, insider Emg Investment, Llc sold 8,179,284 shares of Plains All American Pipeline stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $23.10, for a total value of $188,941,460.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Chris Herbold sold 23,337 shares of Plains All American Pipeline stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $21.38, for a total value of $498,945.06. Following the completion of the sale, the vice president now owns 79,564 shares in the company, valued at $1,701,078.32. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Shares of NYSE:PAA traded down $0.19 during trading on Thursday, reaching $22.07. 36,913 shares of the company’s stock traded hands, compared to its average volume of 2,686,398. Plains All American Pipeline, L.P. has a fifty-two week low of $19.33 and a fifty-two week high of $27.60. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.89. The firm has a market cap of $16.17 billion, a PE ratio of 11.74 and a beta of 1.00. The company has a 50-day simple moving average of $23.51 and a 200-day simple moving average of $23.81.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Tuesday, August 6th. The pipeline company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.23. Plains All American Pipeline had a return on equity of 21.81% and a net margin of 9.48%. The firm had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same period last year, the firm earned $0.27 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Plains All American Pipeline, L.P. will post 2.35 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 6.52%. The ex-dividend date was Tuesday, July 30th. Plains All American Pipeline’s payout ratio is 76.60%.

Plains All American Pipeline Profile

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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