PNC Financial Services Group Inc. Sells 1,525 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

PNC Financial Services Group Inc. lessened its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 194,386 shares of the pipeline company’s stock after selling 1,525 shares during the period. PNC Financial Services Group Inc.’s holdings in Plains All American Pipeline were worth $3,376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC lifted its stake in Plains All American Pipeline by 27.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 85,368 shares of the pipeline company’s stock valued at $1,499,000 after purchasing an additional 18,472 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Plains All American Pipeline by 15.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 166,082 shares of the pipeline company’s stock valued at $2,916,000 after purchasing an additional 22,546 shares during the last quarter. Virtu Financial LLC bought a new position in Plains All American Pipeline in the 1st quarter valued at approximately $279,000. Cetera Investment Advisers bought a new position in Plains All American Pipeline in the 1st quarter valued at approximately $2,763,000. Finally, Cetera Advisors LLC lifted its stake in Plains All American Pipeline by 25.8% in the 1st quarter. Cetera Advisors LLC now owns 31,870 shares of the pipeline company’s stock valued at $560,000 after purchasing an additional 6,546 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Up 0.7 %

Shares of Plains All American Pipeline stock opened at $17.94 on Monday. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 16.02 and a beta of 1.61. The stock’s 50-day moving average is $17.37 and its 200 day moving average is $17.54. 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, L.P. has a one year low of $14.46 and a one year high of $19.17.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. The company had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. Equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.27 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.08%. Plains All American Pipeline’s dividend payout ratio is presently 113.39%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PAA. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a report on Friday, November 15th. Finally, Bank of America initiated coverage on Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.82.

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.