Goldman Sachs Group Inc. Buys 1,524,185 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Goldman Sachs Group Inc. raised its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 21,144,687 shares of the pipeline company's stock after purchasing an additional 1,524,185 shares during the quarter. Goldman Sachs Group Inc. owned 3.00% of Plains All American Pipeline worth $422,894,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC grew its position in Plains All American Pipeline by 107.0% during the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock worth $26,000 after buying an additional 657 shares in the last quarter. National Bank of Canada FI bought a new stake in shares of Plains All American Pipeline in the 4th quarter worth approximately $27,000. North Capital Inc. acquired a new stake in shares of Plains All American Pipeline during the 1st quarter worth approximately $61,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Plains All American Pipeline during the first quarter valued at approximately $68,000. Finally, Cheviot Value Management LLC bought a new stake in shares of Plains All American Pipeline during the first quarter valued at approximately $71,000. Institutional investors and hedge funds own 41.78% of the company's stock.

Plains All American Pipeline Stock Performance

NYSE:PAA opened at $17.87 on Friday. The stock has a market capitalization of $12.57 billion, a P/E ratio of 24.48 and a beta of 0.73. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 1 year low of $15.57 and a 1 year high of $21.00. The firm has a 50 day moving average of $18.16 and a 200-day moving average of $18.52.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The company's revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. As a group, sell-side analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 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 Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a $0.38 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.5%. Plains All American Pipeline's dividend payout ratio (DPR) is 163.44%.

Wall Street Analyst Weigh In

Several research analysts recently commented on PAA shares. JPMorgan Chase & Co. raised their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $20.00 price objective on shares of Plains All American Pipeline in a report on Friday, May 16th. Barclays reiterated an "underweight" rating and set a $18.00 target price on shares of Plains All American Pipeline in a research report on Friday, May 9th. UBS Group set a $25.00 price target on shares of Plains All American Pipeline and gave the stock a "buy" rating in a research report on Tuesday, July 15th. Finally, Citigroup cut their price target on shares of Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Plains All American Pipeline currently has an average rating of "Hold" and a consensus price target of $20.75.

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.

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