Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. lessened its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 16.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,136,900 shares of the pipeline company's stock after selling 413,000 shares during the quarter. Duff & Phelps Investment Management Co. owned approximately 0.30% of Plains All American Pipeline worth $37,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Plains All American Pipeline during the third quarter worth about $28,000. ORG Partners LLC grew its stake in Plains All American Pipeline by 78.5% in the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company's stock worth $30,000 after acquiring an additional 730 shares during the period. Sunbelt Securities Inc. raised its holdings in Plains All American Pipeline by 53.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company's stock valued at $68,000 after acquiring an additional 1,318 shares during the last quarter. American National Bank raised its holdings in Plains All American Pipeline by 249.2% in the 2nd quarter. American National Bank now owns 4,358 shares of the pipeline company's stock valued at $78,000 after acquiring an additional 3,110 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Plains All American Pipeline by 31.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company's stock worth $80,000 after purchasing an additional 1,060 shares during the period. Institutional investors and hedge funds own 41.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PAA shares. Morgan Stanley lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and dropped their target price 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 objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Finally, Bank of America started coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They issued a "neutral" rating and a $18.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $19.82.

Plains All American Pipeline Stock Down 1.6 %

Shares of NYSE:PAA traded down $0.29 during midday trading on Monday, hitting $17.89. 2,624,166 shares of the company's stock traded hands, compared to its average volume of 2,782,943. The firm's fifty day moving average price is $17.45 and its two-hundred day moving average price is $17.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline, L.P. has a twelve month low of $14.46 and a twelve month high of $19.17. The company has a market cap of $12.59 billion, a PE ratio of 12.04 and a beta of 1.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share 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 return on equity of 11.63% and a net margin of 2.08%. The company's revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. On average, equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.24 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.3175 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.10%. Plains All American Pipeline's dividend payout ratio is currently 113.39%.

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.