Plains All American Pipeline, L.P. (NYSE:PAA) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,908,296 shares of the pipeline company's stock after acquiring an additional 1,135,737 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 1.84% of Plains All American Pipeline worth $195,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Sunbelt Securities Inc. acquired a new position in shares of Plains All American Pipeline in the 1st quarter valued at $28,000. CENTRAL TRUST Co grew its position in Plains All American Pipeline by 212.5% during the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company's stock worth $38,000 after purchasing an additional 1,700 shares during the period. Fortitude Family Office LLC acquired a new stake in Plains All American Pipeline during the 4th quarter worth about $39,000. International Assets Investment Management LLC acquired a new stake in Plains All American Pipeline during the 3rd quarter worth about $57,000. Finally, Briaud Financial Planning Inc acquired a new stake in Plains All American Pipeline during the 3rd quarter worth about $58,000. 41.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PAA shares. Truist Financial increased their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Tuesday, March 19th. Citigroup increased their price target on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a "neutral" rating in a research report on Friday, March 1st. Finally, StockNews.com raised Plains All American Pipeline from a "buy" rating to a "strong-buy" rating in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Plains All American Pipeline presently has a consensus rating of "Moderate Buy" and an average price target of $17.56.

Plains All American Pipeline Price Performance

Shares of NYSE:PAA traded up $0.27 during trading on Friday, reaching $18.56. 3,738,532 shares of the company's stock traded hands, compared to its average volume of 2,620,427. Plains All American Pipeline, L.P. has a fifty-two week low of $12.07 and a fifty-two week high of $18.63. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The firm has a market cap of $13.01 billion, a PE ratio of 13.35 and a beta of 1.59. The company has a 50-day simple moving average of $16.56 and a 200-day simple moving average of $15.78.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $14.30 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. Plains All American Pipeline's quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.33 EPS. As a group, analysts predict that Plains All American Pipeline, L.P. will post 1.24 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were paid a $0.3175 dividend. The ex-dividend date was Tuesday, January 30th. This is a positive change from Plains All American Pipeline's previous quarterly dividend of $0.27. This represents a $1.27 dividend on an annualized basis and a yield of 6.84%. Plains All American Pipeline's dividend payout ratio (DPR) is currently 91.37%.

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.