Plains All American Pipeline, L.P. (NYSE:PAA) Position Increased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. raised its position in shares of Plains All American Pipeline, L.P. (NYSE:PAAGet Rating) by 1.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 343,859 shares of the pipeline company’s stock after buying an additional 5,783 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Plains All American Pipeline were worth $3,617,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PAA. Invesco Ltd. lifted its position in shares of Plains All American Pipeline by 38.9% in the first quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company’s stock worth $187,388,000 after purchasing an additional 4,880,244 shares in the last quarter. UBS Group AG lifted its position in shares of Plains All American Pipeline by 20.0% in the second quarter. UBS Group AG now owns 10,163,484 shares of the pipeline company’s stock worth $99,805,000 after purchasing an additional 1,696,004 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its position in shares of Plains All American Pipeline by 5.7% in the second quarter. Kayne Anderson Capital Advisors LP now owns 9,079,150 shares of the pipeline company’s stock worth $89,157,000 after purchasing an additional 492,500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Plains All American Pipeline by 21.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,563,414 shares of the pipeline company’s stock worth $84,093,000 after purchasing an additional 1,520,490 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Plains All American Pipeline by 2.7% in the first quarter. Clearbridge Investments LLC now owns 7,317,092 shares of the pipeline company’s stock worth $78,732,000 after purchasing an additional 194,589 shares in the last quarter. 42.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Truist Financial increased their price target on shares of Plains All American Pipeline from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 2nd. Wells Fargo & Company cut their price objective on shares of Plains All American Pipeline from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, November 4th. StockNews.com lowered shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, January 3rd. Morgan Stanley raised their price objective on shares of Plains All American Pipeline from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, October 19th. Finally, Citigroup assumed coverage on shares of Plains All American Pipeline in a research report on Thursday, December 8th. They set a “buy” rating and a $14.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Plains All American Pipeline presently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Plains All American Pipeline Stock Down 0.3 %

Plains All American Pipeline stock opened at $12.07 on Friday. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 8.32 and a beta of 1.69. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.05 and a quick ratio of 0.93. Plains All American Pipeline, L.P. has a fifty-two week low of $9.10 and a fifty-two week high of $12.75. The firm has a fifty day moving average price of $11.96 and a two-hundred day moving average price of $11.49.

Plains All American Pipeline (NYSE:PAAGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The pipeline company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $14.34 billion during the quarter, compared to analyst estimates of $16.50 billion. Plains All American Pipeline had a net margin of 2.05% and a return on equity of 9.41%. The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. As a group, analysts forecast that Plains All American Pipeline, L.P. will post 1.27 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Tuesday, January 31st will be given a dividend of $0.2675 per share. The ex-dividend date is Monday, January 30th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 8.86%. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.22. Plains All American Pipeline’s dividend payout ratio is currently 60.00%.

Plains All American Pipeline Company Profile

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Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.

Further Reading

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Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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