Comerica Bank Has $296,000 Stake in Plains All American Pipeline, L.P. (PAA)

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Comerica Bank decreased its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,707 shares of the pipeline company’s stock after selling 574 shares during the quarter. Comerica Bank’s holdings in Plains All American Pipeline were worth $296,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of PAA. We Are One Seven LLC acquired a new stake in Plains All American Pipeline in the fourth quarter worth about $26,000. Capital Investment Advisory Services LLC acquired a new stake in Plains All American Pipeline in the fourth quarter worth about $28,000. Arlington Partners LLC acquired a new stake in Plains All American Pipeline in the fourth quarter worth about $32,000. Portfolio Solutions LLC acquired a new stake in Plains All American Pipeline in the fourth quarter worth about $36,000. Finally, Lavaca Capital LLC acquired a new stake in Plains All American Pipeline in the fourth quarter worth about $44,000. 47.39% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE PAA opened at $24.30 on Monday. Plains All American Pipeline, L.P. has a twelve month low of $19.33 and a twelve month high of $27.70. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.02 and a quick ratio of 0.84. The stock has a market capitalization of $17.66 billion, a price-to-earnings ratio of 12.93 and a beta of 1.09.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Tuesday, February 5th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.11. The firm had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $9.92 billion. Plains All American Pipeline had a return on equity of 18.87% and a net margin of 6.50%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 EPS. On average, equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.97 EPS for the current year.

PAA has been the subject of a number of research analyst reports. Goldman Sachs Group raised shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating in a report on Wednesday, January 2nd. Wolfe Research raised shares of Plains All American Pipeline from an “underperform” rating to a “peer perform” rating in a report on Monday, November 26th. Evercore ISI initiated coverage on shares of Plains All American Pipeline in a report on Tuesday, February 5th. They issued a $24.00 price target for the company. Tudor Pickering raised shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a report on Wednesday, February 6th. Finally, Jefferies Financial Group raised shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $28.33.

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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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