PFG Investments LLC Makes New Investment in Plains All American Pipeline, L.P. (NYSE:PAA)

PFG Investments LLC purchased a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 29,317 shares of the pipeline company’s stock, valued at approximately $515,000.

A number of other institutional investors have also modified their holdings of the company. Alps Advisors Inc. boosted its position in 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 worth $1,026,923,000 after acquiring an additional 8,406,683 shares during the last quarter. Blackstone Inc. lifted its stake in shares of Plains All American Pipeline by 131.6% during the 3rd quarter. Blackstone Inc. now owns 24,267,022 shares of the pipeline company’s stock worth $371,771,000 after purchasing an additional 13,787,485 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Plains All American Pipeline by 9.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock worth $195,561,000 after purchasing an additional 1,135,737 shares during the last quarter. UBS Group AG grew its position in shares of Plains All American Pipeline by 89.3% in the fourth quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company’s stock valued at $129,630,000 after purchasing an additional 4,035,328 shares during the period. Finally, Eagle Global Advisors LLC increased its stake in Plains All American Pipeline by 1.8% in the fourth quarter. Eagle Global Advisors LLC now owns 3,931,137 shares of the pipeline company’s stock valued at $59,557,000 after purchasing an additional 68,810 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Stock Up 0.9 %

NYSE PAA traded up $0.16 on Monday, reaching $18.03. The company had a trading volume of 2,912,034 shares, compared to its average volume of 3,426,614. 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, L.P. has a 1 year low of $12.07 and a 1 year high of $19.03. The firm has a 50-day moving average of $17.30 and a 200-day moving average of $16.10. The firm has a market capitalization of $12.64 billion, a PE ratio of 12.97 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share 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 net margin of 2.39% and a return on equity of 10.48%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. On average, equities 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 annualized dividend and a dividend yield of 7.04%. Plains All American Pipeline’s dividend payout ratio is presently 91.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PAA shares. Truist Financial lifted their price target 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. Scotiabank began coverage on Plains All American Pipeline in a research report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price target for the company. StockNews.com upgraded Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 24th. The Goldman Sachs Group lifted their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Finally, UBS Group raised their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, two have issued 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.com, Plains All American Pipeline presently has an average rating of “Moderate Buy” and a consensus price target 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.