GraniteShares Advisors LLC Buys Shares of 60,000 Plains All American Pipeline, L.P. (NYSE:PAA)

GraniteShares Advisors LLC bought a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 60,000 shares of the pipeline company's stock, valued at approximately $909,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PAA. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Plains All American Pipeline in the 1st quarter valued at $130,000. Cetera Advisor Networks LLC increased its position in shares of Plains All American Pipeline by 45.5% in the 1st quarter. Cetera Advisor Networks LLC now owns 16,943 shares of the pipeline company's stock valued at $182,000 after buying an additional 5,296 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Plains All American Pipeline in the 1st quarter valued at $181,000. Clearbridge Investments LLC increased its position in shares of Plains All American Pipeline by 2.7% in the 1st quarter. Clearbridge Investments LLC now owns 7,317,092 shares of the pipeline company's stock valued at $78,732,000 after buying an additional 194,589 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Plains All American Pipeline by 38.9% in the 1st quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company's stock valued at $187,388,000 after buying an additional 4,880,244 shares in the last quarter. Institutional investors own 41.78% of the company's stock.

Plains All American Pipeline Stock Performance

NYSE:PAA traded down $0.25 during mid-day trading on Tuesday, hitting $17.26. The stock had a trading volume of 6,695,210 shares, compared to its average volume of 3,365,786. Plains All American Pipeline, L.P. has a twelve month low of $12.07 and a twelve month high of $19.03. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 12.49 and a beta of 1.59. The company's 50 day simple moving average is $16.86 and its 200 day simple moving average is $15.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate 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 revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. On average, equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.25 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.3175 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 annualized dividend and a yield of 7.36%. Plains All American Pipeline's dividend payout ratio (DPR) is presently 91.37%.

Analyst Ratings Changes

A number of research firms have issued reports on PAA. Stifel Nicolaus increased their target price on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday. Truist Financial increased their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, March 19th. The Goldman Sachs Group increased their target price on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a "sell" rating in a report on Friday. Scotiabank initiated coverage on Plains All American Pipeline in a report on Monday, April 8th. They set a "sector outperform" rating and a $23.00 target price for the company. Finally, StockNews.com upgraded shares of Plains All American Pipeline from a "buy" rating to a "strong-buy" rating in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Plains All American Pipeline currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.96.

Plains All American Pipeline Company Profile

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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