Goldman Sachs Group Inc. Acquires 1,524,185 Shares of Plains All American Pipeline, L.P. $PAA

Key Points

• Goldman Sachs Group Inc. has increased its stake in Plains All American Pipeline by 7.8%, acquiring an additional 1,524,185 shares, bringing its total ownership to approximately 21.14 million shares valued at $422.89 million.
• Several institutional investors have also raised their positions in Plains All American Pipeline, with notable increases from Invesco Ltd. and BNP Paribas Financial Markets, indicating strong interest from large investors.
• Plains All American Pipeline announced a quarterly dividend of $0.38 per share, representing an 8.9% dividend yield, despite a decline in revenue of 16.6% year-over-year.

Goldman Sachs Group Inc. lifted its stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,144,687 shares of the pipeline company's stock after buying an additional 1,524,185 shares during the period. Goldman Sachs Group Inc. owned approximately 3.01% of Plains All American Pipeline worth $422,894,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Plains All American Pipeline by 31.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,970 shares of the pipeline company's stock valued at $879,000 after buying an additional 10,412 shares during the period. Oppenheimer Asset Management Inc. raised its position in Plains All American Pipeline by 5.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 56,334 shares of the pipeline company's stock valued at $1,127,000 after purchasing an additional 2,891 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in Plains All American Pipeline by 32.1% during the first quarter. Stratos Wealth Partners LTD. now owns 28,283 shares of the pipeline company's stock valued at $566,000 after purchasing an additional 6,874 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Plains All American Pipeline during the first quarter valued at approximately $218,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Plains All American Pipeline by 61.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 76,070 shares of the pipeline company's stock valued at $1,521,000 after purchasing an additional 28,916 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PAA has been the subject of several research analyst reports. UBS Group set a $25.00 price objective on shares of Plains All American Pipeline and gave the company a "buy" rating in a research report on Tuesday, July 15th. Citigroup set a $18.00 price target on shares of Plains All American Pipeline and gave the stock a "neutral" rating in a report on Friday, August 8th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $20.00 price target on shares of Plains All American Pipeline in a research note on Friday, May 16th. Zacks Research raised shares of Plains All American Pipeline to a "hold" rating in a research report on Monday, August 11th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Plains All American Pipeline in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $20.58.

Plains All American Pipeline Stock Up 0.6%

Shares of PAA stock traded up $0.11 on Friday, reaching $17.46. 2,027,699 shares of the company were exchanged, compared to its average volume of 3,491,412. The company has a market cap of $12.28 billion, a price-to-earnings ratio of 23.92 and a beta of 0.80. The company has a 50-day moving average of $18.03 and a 200-day moving average of $18.07. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. Plains All American Pipeline, L.P. has a one year low of $15.57 and a one year high of $21.00.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The firm's revenue was down 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 EPS. Analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.52 annualized dividend and a yield of 8.7%. Plains All American Pipeline's dividend payout ratio (DPR) is presently 172.73%.

About Plains All American Pipeline

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.