Jennison Associates LLC Has $5.89 Million Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Jennison Associates LLC decreased its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 1.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 388,846 shares of the pipeline company’s stock after selling 3,801 shares during the period. Jennison Associates LLC owned 0.06% of Plains All American Pipeline worth $5,891,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. IFP Advisors Inc boosted its holdings in shares of Plains All American Pipeline by 14.8% during the 3rd quarter. IFP Advisors Inc now owns 5,226 shares of the pipeline company’s stock worth $80,000 after buying an additional 674 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Plains All American Pipeline by 1.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 92,072 shares of the pipeline company’s stock worth $1,411,000 after buying an additional 1,089 shares during the period. Wealth Alliance Advisory Group LLC boosted its holdings in shares of Plains All American Pipeline by 1.3% during the 4th quarter. Wealth Alliance Advisory Group LLC now owns 83,690 shares of the pipeline company’s stock worth $1,268,000 after buying an additional 1,112 shares during the period. Donoghue Forlines LLC boosted its holdings in shares of Plains All American Pipeline by 4.2% during the 3rd quarter. Donoghue Forlines LLC now owns 34,128 shares of the pipeline company’s stock worth $523,000 after buying an additional 1,381 shares during the period. Finally, CENTRAL TRUST Co boosted its holdings in shares of Plains All American Pipeline by 212.5% during the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after buying an additional 1,700 shares during the period. Institutional investors own 41.78% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PAA. UBS Group lifted their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Scotiabank began coverage on shares of Plains All American Pipeline in a report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective for the company. The Goldman Sachs Group boosted their price objective on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, April 12th. Truist Financial boosted their price objective on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Citigroup boosted 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 report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.96.

Plains All American Pipeline Price Performance

PAA stock opened at $17.87 on Friday. The company has a 50 day simple moving average of $17.27 and a 200 day simple moving average of $16.07. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 12.64 and a beta of 1.59. Plains All American Pipeline, L.P. has a 1 year low of $12.07 and a 1 year high of $19.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $14.30 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. Research analysts anticipate that Plains All American Pipeline, L.P. will post 1.34 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.11%. The ex-dividend date is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio is 91.37%.

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.