Plains All American Pipeline Lp $PAA Shares Purchased by Infrastructure Capital Advisors LLC

Key Points

• Infrastructure Capital Advisors increased its Plains All American Pipeline stake by 4.4% in the first quarter, acquiring 130,164 shares to hold 3.09 million shares valued at approximately $69 million.
• Several major institutions also expanded their positions, including Goldman Sachs, Brookfield, Morgan Stanley and Cohen & Steers; institutional investors collectively own 41.78% of PAA.
• Analysts maintain a consensus “Hold” rating with a $23.23 price target, while PAA recently traded at $24.29. The company announced a quarterly dividend of $0.4175 per share, representing a 6.9% annualized yield.

Infrastructure Capital Advisors LLC increased its holdings in shares of Plains All American Pipeline Lp (NASDAQ:PAA - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,089,992 shares of the company's stock after buying an additional 130,164 shares during the quarter. Plains All American Pipeline accounts for about 4.8% of Infrastructure Capital Advisors LLC's portfolio, making the stock its 3rd largest position. Infrastructure Capital Advisors LLC owned approximately 0.44% of Plains All American Pipeline worth $69,000,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake in shares of Plains All American Pipeline by 17.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company's stock worth $360,097,000 after acquiring an additional 3,033,216 shares during the last quarter. BROOKFIELD Corp ON raised its position in shares of Plains All American Pipeline by 428.2% in the 1st quarter. BROOKFIELD Corp ON now owns 3,691,435 shares of the company's stock valued at $82,430,000 after purchasing an additional 2,992,549 shares during the last quarter. Morgan Stanley raised its position in shares of Plains All American Pipeline by 40.2% in the 4th quarter. Morgan Stanley now owns 9,881,248 shares of the company's stock valued at $177,467,000 after purchasing an additional 2,833,161 shares during the last quarter. Cohen & Steers Inc. boosted its stake in Plains All American Pipeline by 97.9% in the 4th quarter. Cohen & Steers Inc. now owns 2,502,309 shares of the company's stock worth $44,941,000 after purchasing an additional 1,237,877 shares in the last quarter. Finally, BROOKFIELD Corp ON boosted its stake in Plains All American Pipeline by 18.9% in the 2nd quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company's stock worth $124,112,000 after purchasing an additional 1,076,291 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup upped their price target on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Weiss Ratings reiterated a "buy (b)" rating on shares of Plains All American Pipeline in a research note on Wednesday, July 15th. Wells Fargo & Company boosted their price objective on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, May 12th. Morgan Stanley upped their target price on Plains All American Pipeline from $23.00 to $25.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 20th. Finally, Truist Financial raised their target price on Plains All American Pipeline from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $23.23.

Plains All American Pipeline Stock Performance

PAA opened at $24.29 on Tuesday. Plains All American Pipeline Lp has a 12-month low of $15.69 and a 12-month high of $24.87. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $17.14 billion, a PE ratio of 18.54, a P/E/G ratio of 9.71 and a beta of 0.50. The firm has a 50 day moving average of $22.89 and a two-hundred day moving average of $21.63.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). The business had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. Plains All American Pipeline's revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share. On average, analysts anticipate that Plains All American Pipeline Lp will post 1.55 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.4175 per share. The ex-dividend date is Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a 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.

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