BROOKFIELD Corp ON increased its stake in shares of Plains All American Pipeline Lp (NASDAQ:PAA – Free Report) by 428.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,691,435 shares of the company’s stock after buying an additional 2,992,549 shares during the quarter. Plains All American Pipeline accounts for about 0.1% of BROOKFIELD Corp ON’s investment portfolio, making the stock its 27th largest position. BROOKFIELD Corp ON owned 0.52% of Plains All American Pipeline worth $82,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also bought and sold shares of the stock. NewEdge Advisors LLC acquired a new position in Plains All American Pipeline during the first quarter worth $260,000. Guggenheim Capital LLC grew its holdings in shares of Plains All American Pipeline by 5.9% in the 2nd quarter. Guggenheim Capital LLC now owns 46,288 shares of the company’s stock worth $848,000 after purchasing an additional 2,592 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Plains All American Pipeline by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 404,921 shares of the company’s stock worth $7,418,000 after purchasing an additional 16,096 shares during the last quarter. Glenview Trust co bought a new stake in shares of Plains All American Pipeline in the 2nd quarter worth about $404,000. Finally, HUB Investment Partners LLC increased its position in shares of Plains All American Pipeline by 5.6% during the 2nd quarter. HUB Investment Partners LLC now owns 91,113 shares of the company’s stock worth $1,669,000 after purchasing an additional 4,839 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.
Plains All American Pipeline Price Performance
Shares of NASDAQ PAA opened at $24.60 on Monday. The firm’s 50-day simple moving average is $22.87 and its 200 day simple moving average is $21.59. The company has a market cap of $17.36 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 9.71 and a beta of 0.50. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02. Plains All American Pipeline Lp has a 12-month low of $15.69 and a 12-month high of $24.87.
Plains All American Pipeline Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Friday, July 31st. Plains All American Pipeline’s dividend payout ratio is presently 127.48%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Scotiabank boosted their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $23.00 price objective on shares of Plains All American Pipeline in a report on Tuesday, July 21st. US Capital Advisors cut shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. The Goldman Sachs Group raised Plains All American Pipeline from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $18.00 to $24.00 in a report on Wednesday, June 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Plains All American Pipeline in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $23.23.
Get Our Latest Report on Plains All American Pipeline
Plains All American Pipeline Profile
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.
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