International Assets Investment Management LLC Acquires 52,709 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

International Assets Investment Management LLC increased its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 1,415.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,434 shares of the pipeline company's stock after buying an additional 52,709 shares during the quarter. International Assets Investment Management LLC's holdings in Plains All American Pipeline were worth $855,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. UMB Bank n.a. grew its position in Plains All American Pipeline by 21.5% during the fourth quarter. UMB Bank n.a. now owns 68,078 shares of the pipeline company's stock worth $1,031,000 after buying an additional 12,046 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in shares of Plains All American Pipeline in the 4th quarter valued at $182,000. Covenant Asset Management LLC boosted its holdings in shares of Plains All American Pipeline by 10.0% in the 4th quarter. Covenant Asset Management LLC now owns 21,241 shares of the pipeline company's stock valued at $322,000 after purchasing an additional 1,938 shares in the last quarter. Spirit of America Management Corp NY boosted its holdings in shares of Plains All American Pipeline by 3.7% in the 4th quarter. Spirit of America Management Corp NY now owns 363,300 shares of the pipeline company's stock valued at $5,504,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Plains All American Pipeline by 0.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 349,105 shares of the pipeline company's stock valued at $5,289,000 after purchasing an additional 2,388 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company's stock.

Plains All American Pipeline Trading Up 1.1 %

NYSE:PAA traded up $0.20 during trading hours on Wednesday, hitting $18.25. 3,515,723 shares of the company were exchanged, compared to its average volume of 3,446,528. The stock has a market capitalization of $12.79 billion, a price-to-earnings ratio of 13.13 and a beta of 1.59. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a one year low of $12.07 and a one year high of $19.03. The company has a fifty day simple moving average of $17.19 and a 200 day simple moving average of $16.03.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same period last year, the company posted $0.33 EPS. The business's quarterly revenue was down 2.0% on a year-over-year basis. Sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.26 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 6.96%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline's dividend payout ratio (DPR) is presently 91.37%.

Analysts Set New Price Targets

PAA has been the topic of a number of research analyst reports. Truist Financial raised their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, March 19th. Citigroup raised their target price on Plains All American Pipeline from $16.50 to $17.50 and gave the company a "neutral" rating in a report on Friday, March 1st. StockNews.com raised Plains All American Pipeline from a "buy" rating to a "strong-buy" rating in a report on Wednesday. UBS Group raised their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company a "buy" rating in a report on Friday, April 12th. Finally, Scotiabank started coverage on Plains All American Pipeline in a report on Monday, April 8th. They set a "sector outperform" rating and a $23.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.96.

Plains All American Pipeline 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.