Plains All American Pipeline Lp $PAA Position Increased by DV Trading LLC

DV Trading LLC boosted its stake in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 148.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,454 shares of the company’s stock after purchasing an additional 49,221 shares during the quarter. DV Trading LLC’s holdings in Plains All American Pipeline were worth $1,841,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PAA. Goldman Sachs Group Inc. lifted its stake in Plains All American Pipeline by 17.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock valued at $360,097,000 after buying an additional 3,033,216 shares during the last quarter. BROOKFIELD Corp ON grew its position in shares of Plains All American Pipeline by 428.2% during the first quarter. BROOKFIELD Corp ON now owns 3,691,435 shares of the company’s stock worth $82,430,000 after acquiring an additional 2,992,549 shares during the last quarter. Morgan Stanley increased its holdings in shares of Plains All American Pipeline by 40.2% in the 4th quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock worth $177,467,000 after acquiring an additional 2,833,161 shares during the period. Cohen & Steers Inc. increased its holdings in shares of Plains All American Pipeline by 97.9% in the 4th quarter. Cohen & Steers Inc. now owns 2,502,309 shares of the company’s stock worth $44,941,000 after acquiring an additional 1,237,877 shares during the period. Finally, BROOKFIELD Corp ON lifted its position in Plains All American Pipeline by 18.9% in the 2nd quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company’s stock valued at $124,112,000 after purchasing an additional 1,076,291 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Stock Down 1.0%

Plains All American Pipeline stock opened at $24.57 on Friday. The stock has a market cap of $17.33 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 9.75 and a beta of 0.50. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The company’s 50-day moving average price is $22.97 and its two-hundred day moving average price is $21.79. Plains All American Pipeline Lp has a 52 week low of $15.69 and a 52 week high of $25.03.

Plains All American Pipeline (NASDAQ:PAA) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The company had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. On average, analysts expect that Plains All American Pipeline Lp will post 1.55 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Friday, July 31st. Plains All American Pipeline’s dividend payout ratio is 127.48%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. The Goldman Sachs Group upgraded shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and upped their target price for the stock from $18.00 to $24.00 in a research report on Wednesday, June 3rd. US Capital Advisors cut Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Truist Financial boosted their price objective on Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Plains All American Pipeline in a report on Wednesday, July 15th. Finally, Mizuho lifted their target price on Plains All American Pipeline from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Plains All American Pipeline presently has an average rating of “Hold” and an average price target of $23.23.

About Plains All American Pipeline

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.