Enterprise Financial Services Corp Has $102,000 Position in Plains All American Pipeline, L.P. (PAA)

Enterprise Financial Services Corp reduced its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,871 shares of the pipeline company’s stock after selling 75 shares during the period. Enterprise Financial Services Corp’s holdings in Plains All American Pipeline, L.P. were worth $102,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Huntington National Bank raised its position in Plains All American Pipeline, L.P. by 101.0% in the first quarter. Huntington National Bank now owns 62,059 shares of the pipeline company’s stock valued at $1,961,000 after buying an additional 31,187 shares during the period. Bollard Group LLC raised its position in Plains All American Pipeline, L.P. by 12.1% in the first quarter. Bollard Group LLC now owns 326,759 shares of the pipeline company’s stock valued at $10,329,000 after buying an additional 35,321 shares during the period. Coastline Trust Co raised its position in Plains All American Pipeline, L.P. by 2.8% in the first quarter. Coastline Trust Co now owns 14,510 shares of the pipeline company’s stock valued at $458,000 after buying an additional 400 shares during the period. Greylin Investment Mangement Inc. raised its position in Plains All American Pipeline, L.P. by 2.7% in the first quarter. Greylin Investment Mangement Inc. now owns 18,850 shares of the pipeline company’s stock valued at $596,000 after buying an additional 500 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its position in Plains All American Pipeline, L.P. by 1.2% in the first quarter. Duff & Phelps Investment Management Co. now owns 2,034,610 shares of the pipeline company’s stock valued at $64,314,000 after buying an additional 25,000 shares during the period. 43.94% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline, L.P. (PAA) traded down 0.68% during mid-day trading on Friday, hitting $19.01. The stock had a trading volume of 4,964,772 shares. Plains All American Pipeline, L.P. has a 12 month low of $18.82 and a 12 month high of $33.95. The firm’s 50-day moving average is $24.71 and its 200 day moving average is $28.14. The company has a market cap of $13.78 billion, a price-to-earnings ratio of 14.67 and a beta of 0.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last released its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.05. Plains All American Pipeline, L.P. had a net margin of 4.42% and a return on equity of 10.14%. The firm had revenue of $6.08 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter in the previous year, the business earned ($0.12) EPS. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. Equities analysts anticipate that Plains All American Pipeline, L.P. will post $1.50 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were issued a $0.55 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.20 annualized dividend and a dividend yield of 11.57%. Plains All American Pipeline, L.P.’s dividend payout ratio is currently 165.41%.

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Several research firms have weighed in on PAA. Wolfe Research reaffirmed a “market perform” rating on shares of Plains All American Pipeline, L.P. in a research report on Friday, April 21st. Macquarie reaffirmed an “outperform” rating and set a $36.00 price target on shares of Plains All American Pipeline, L.P. in a research report on Friday, April 21st. Jefferies Group LLC lowered Plains All American Pipeline, L.P. from a “buy” rating to a “hold” rating and lowered their price target for the stock from $28.00 to $27.00 in a research report on Friday, April 21st. Scotiabank reaffirmed a “buy” rating and set a $36.00 price target on shares of Plains All American Pipeline, L.P. in a research report on Thursday, April 27th. Finally, Raymond James Financial, Inc. raised Plains All American Pipeline, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research report on Monday, May 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $29.82.

Plains All American Pipeline, L.P. Company Profile

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

Institutional Ownership by Quarter for Plains All American Pipeline, L.P. (NYSE:PAA)

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