Longfellow Investment Management Co. LLC Has $22.80 Million Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Longfellow Investment Management Co. LLC trimmed its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 11.6% in the third quarter, HoldingsChannel reports. The firm owned 1,312,831 shares of the pipeline company’s stock after selling 171,845 shares during the period. Plains All American Pipeline makes up about 5.7% of Longfellow Investment Management Co. LLC’s portfolio, making the stock its 4th largest position. Longfellow Investment Management Co. LLC’s holdings in Plains All American Pipeline were worth $22,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. ORG Partners LLC lifted its stake in Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 730 shares in the last quarter. Axiom Advisory LLC increased its position in shares of Plains All American Pipeline by 5.2% during the third quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock valued at $274,000 after acquiring an additional 750 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Plains All American Pipeline by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after acquiring an additional 856 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Plains All American Pipeline by 5.1% during the third quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock worth $315,000 after acquiring an additional 887 shares during the period. Finally, Private Advisor Group LLC boosted its position in Plains All American Pipeline by 0.9% in the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock worth $1,908,000 after purchasing an additional 927 shares during the last quarter. 41.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PAA. Morgan Stanley downgraded shares of 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 report on Friday, October 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a research report on Friday, November 15th. Finally, Bank of America initiated coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Plains All American Pipeline presently has a consensus rating of “Hold” and an average target price of $19.82.

Plains All American Pipeline Trading Down 0.4 %

Shares of PAA opened at $17.87 on Monday. The business’s 50-day moving average price is $17.37 and its 200-day moving average price is $17.54. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a twelve month low of $14.46 and a twelve month high of $19.17. The stock has a market cap of $12.57 billion, a PE ratio of 11.88 and a beta of 1.61.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. Plains All American Pipeline’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, equities analysts forecast that Plains All American Pipeline, L.P. will post 1.27 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.11%. The ex-dividend date was Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 113.39%.

Plains All American Pipeline Company Profile

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.