Plains All American Pipeline, L.P. (NYSE:PAA) VP Sells $498,945.06 in Stock

Plains All American Pipeline, L.P. (NYSE:PAA) VP Chris Herbold sold 23,337 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $21.38, for a total transaction of $498,945.06. The transaction was disclosed in a filing with the SEC, which is available through this link.

Shares of NYSE:PAA traded up $0.38 during midday trading on Friday, reaching $21.72. 2,455,754 shares of the company were exchanged, compared to its average volume of 2,192,247. 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 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.89. The stock has a fifty day simple moving average of $23.80 and a two-hundred day simple moving average of $23.86. The firm has a market cap of $15.79 billion, a PE ratio of 11.55 and a beta of 1.00.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.23. Plains All American Pipeline had a net margin of 9.48% and a return on equity of 21.81%. The firm had revenue of $8.25 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same period in the previous year, the business earned $0.27 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts forecast that Plains All American Pipeline, L.P. will post 2.34 earnings per share for the current year.



The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.36 dividend. The ex-dividend date was Tuesday, July 30th. This represents a $1.44 annualized dividend and a yield of 6.63%. Plains All American Pipeline’s payout ratio is currently 76.60%.

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

A number of hedge funds have recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. increased its stake in Plains All American Pipeline by 5.3% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 39,904,482 shares of the pipeline company’s stock valued at $971,674,000 after buying an additional 2,014,541 shares during the last quarter. Brookfield Asset Management Inc. boosted its holdings in shares of Plains All American Pipeline by 3.2% during the 2nd quarter. Brookfield Asset Management Inc. now owns 14,283,205 shares of the pipeline company’s stock worth $347,796,000 after buying an additional 446,655 shares during the period. Chickasaw Capital Management LLC boosted its holdings in shares of Plains All American Pipeline by 19.1% during the 2nd quarter. Chickasaw Capital Management LLC now owns 9,784,469 shares of the pipeline company’s stock worth $238,252,000 after buying an additional 1,572,459 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Plains All American Pipeline by 9.8% during the 1st quarter. CIBC Private Wealth Group LLC now owns 7,987,029 shares of the pipeline company’s stock worth $195,762,000 after buying an additional 712,077 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of Plains All American Pipeline by 30.4% during the 1st quarter. Bank of Montreal Can now owns 7,168,945 shares of the pipeline company’s stock worth $175,711,000 after buying an additional 1,671,285 shares during the period. Hedge funds and other institutional investors own 48.81% of the company’s stock.

Plains All American Pipeline Company 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.

Read More: What are municipal bonds?

Receive News & Ratings for Plains All American Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains All American Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.