Huntington National Bank Decreases Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Huntington National Bank reduced its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 42.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,622 shares of the pipeline company’s stock after selling 25,264 shares during the period. Huntington National Bank’s holdings in Plains All American Pipeline were worth $698,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Atwater Malick LLC purchased a new position in shares of Plains All American Pipeline in the third quarter worth about $25,000. Garrett Wealth Advisory Group LLC purchased a new position in shares of Plains All American Pipeline in the third quarter worth about $26,000. Lenox Wealth Advisors LLC purchased a new position in shares of Plains All American Pipeline in the third quarter worth about $32,000. Paragon Capital Management LLC lifted its stake in shares of Plains All American Pipeline by 136.0% in the second quarter. Paragon Capital Management LLC now owns 1,416 shares of the pipeline company’s stock worth $34,000 after buying an additional 816 shares in the last quarter. Finally, North Star Investment Management Corp. purchased a new position in shares of Plains All American Pipeline in the third quarter worth about $37,000. 50.46% of the stock is currently owned by hedge funds and other institutional investors.

In other Plains All American Pipeline news, VP Chris Herbold sold 23,337 shares of Plains All American Pipeline stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $21.38, for a total transaction of $498,945.06. Following the completion of the sale, the vice president now directly owns 79,564 shares in the company, valued at $1,701,078.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Several research firms have recently weighed in on PAA. Stifel Nicolaus set a $25.00 price target on shares of Plains All American Pipeline and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Raymond James decreased their price target on shares of Plains All American Pipeline from $29.00 to $27.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 23rd. Scotiabank began coverage on shares of Plains All American Pipeline in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $28.00 price target on the stock. ValuEngine raised shares of Plains All American Pipeline from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Piper Jaffray Companies started 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 objective for the company. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Plains All American Pipeline currently has an average rating of “Buy” and a consensus target price of $26.73.

Plains All American Pipeline stock traded down $0.16 during midday trading on Friday, hitting $18.19. 2,920,500 shares of the stock were exchanged, compared to its average volume of 2,354,946. Plains All American Pipeline, L.P. has a fifty-two week low of $17.78 and a fifty-two week high of $25.27. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of 9.68 and a beta of 1.01. The stock’s 50-day simple moving average is $19.62 and its 200 day simple moving average is $22.33. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.13. Plains All American Pipeline had a net margin of 8.95% and a return on equity of 21.31%. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period last year, the business earned $0.43 earnings per share. Plains All American Pipeline’s revenue was down 10.3% compared to the same quarter last year. Equities analysts anticipate that Plains All American Pipeline, L.P. will post 2.35 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.92%. The ex-dividend date of this dividend is Wednesday, October 30th. Plains All American Pipeline’s dividend payout ratio is presently 76.60%.

About Plains All American Pipeline

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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