Plains All American Pipeline, L.P. (NYSE:PAA) Stake Lifted by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 1,415.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,434 shares of the pipeline company’s stock after buying an additional 52,709 shares during the period. International Assets Investment Management LLC’s holdings in Plains All American Pipeline were worth $855,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Blackstone Inc. increased its holdings in shares of Plains All American Pipeline by 131.6% in the 3rd quarter. Blackstone Inc. now owns 24,267,022 shares of the pipeline company’s stock worth $371,771,000 after acquiring an additional 13,787,485 shares during the period. Alps Advisors Inc. raised its holdings in shares of Plains All American Pipeline by 14.3% during the third quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company’s stock valued at $1,026,923,000 after buying an additional 8,406,683 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Plains All American Pipeline by 11.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,772,559 shares of the pipeline company’s stock worth $180,356,000 after buying an additional 1,197,006 shares during the period. Nomura Holdings Inc. bought a new position in Plains All American Pipeline in the 3rd quarter worth approximately $11,188,000. Finally, Acadian Asset Management LLC grew its holdings in Plains All American Pipeline by 837.3% in the 3rd quarter. Acadian Asset Management LLC now owns 759,627 shares of the pipeline company’s stock worth $11,635,000 after buying an additional 678,585 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Price Performance

Shares of NYSE:PAA opened at $18.05 on Wednesday. The company has a market capitalization of $12.65 billion, a PE ratio of 12.99 and a beta of 1.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. The stock has a fifty day moving average of $17.14 and a 200-day moving average of $16.02. Plains All American Pipeline, L.P. has a one year low of $12.07 and a one year high of $19.03.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $14.30 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. Plains All American Pipeline’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 earnings per share. As a group, equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.26 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 Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.04%. The ex-dividend date is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 91.37%.

Analysts Set New Price Targets

A number of research analysts have issued reports on PAA shares. Truist Financial boosted their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Stifel Nicolaus raised their target price on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. UBS Group upped their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Citigroup raised their price objective on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a research note on Friday, March 1st. Finally, The Goldman Sachs Group boosted their target price on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.96.

Plains All American Pipeline Profile

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.