Infrastructure Capital Advisors LLC boosted its stake in shares of Plains All American Pipeline Lp (NASDAQ:PAA – Free Report) by 4.4% in the 1st quarter, Holdings Channel reports. The fund owned 3,089,992 shares of the company’s stock after buying an additional 130,164 shares during the period. Plains All American Pipeline makes up 4.8% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 3rd largest position. Infrastructure Capital Advisors LLC’s holdings in Plains All American Pipeline were worth $69,000,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Financial Life Planners purchased a new stake in Plains All American Pipeline in the 1st quarter worth approximately $27,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Plains All American Pipeline by 40.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock valued at $41,000 after purchasing an additional 655 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in shares of Plains All American Pipeline in the 3rd quarter valued at $50,000. Scarborough Advisors LLC acquired a new position in shares of Plains All American Pipeline in the 1st quarter valued at $80,000. Finally, Farther Finance Advisors LLC boosted its holdings in Plains All American Pipeline by 342.7% during the fourth quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock worth $73,000 after buying an additional 3,149 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently commented on PAA shares. Mizuho raised their price target on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Morgan Stanley upped their price objective on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Royal Bank Of Canada reissued a “sector perform” rating and set a $23.00 target price on shares of Plains All American Pipeline in a research note on Tuesday, July 21st. Scotiabank lifted their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, Zacks Research cut Plains All American Pipeline from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. One equities 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 given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.23.
Plains All American Pipeline Price Performance
Plains All American Pipeline stock opened at $24.29 on Tuesday. The stock has a market capitalization of $17.14 billion, a P/E ratio of 18.54, a P/E/G ratio of 9.71 and a beta of 0.50. The company’s fifty day moving average price is $22.89 and its 200 day moving average price is $21.63. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.94. Plains All American Pipeline Lp has a 1 year low of $15.69 and a 1 year high of $24.87.
Plains All American Pipeline (NASDAQ:PAA – Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The company had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 EPS. As a group, equities research analysts anticipate that Plains All American Pipeline Lp will post 1.55 earnings per share for the current fiscal year.
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 paid a dividend of $0.4175 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.9%. Plains All American Pipeline’s payout ratio is currently 127.48%.
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.
Further Reading
- Five stocks we like better than Plains All American Pipeline
- AirJoule’s Kubota Deal Is a Major Validation—But the Hard Part Comes Next
- Dividend Stocks May Be the Quiet Rotation Trade Investors Are Missing Now
- Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There?
- Verizon May Be an AI Infrastructure Stock Hiding in Plain Sight
Want to see what other hedge funds are holding PAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plains All American Pipeline Lp (NASDAQ:PAA – Free Report).
Receive News & Ratings for Plains All American Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains All American Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.
