Plains All American Pipeline, L.P. (NYSE:PAA) Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 383,138 shares of the pipeline company’s stock after purchasing an additional 6,458 shares during the quarter. Maryland State Retirement & Pension System owned 0.05% of Plains All American Pipeline worth $5,805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Advisors Inc. OK acquired a new position in Plains All American Pipeline during the fourth quarter valued at approximately $4,234,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Plains All American Pipeline by 9.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock valued at $195,561,000 after purchasing an additional 1,135,737 shares in the last quarter. ING Groep NV raised its position in Plains All American Pipeline by 12.2% in the third quarter. ING Groep NV now owns 3,043,600 shares of the pipeline company’s stock valued at $46,628,000 after purchasing an additional 332,000 shares during the period. DAVENPORT & Co LLC acquired a new position in shares of Plains All American Pipeline during the fourth quarter worth about $182,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Plains All American Pipeline by 374.7% in the third quarter. Envestnet Asset Management Inc. now owns 229,923 shares of the pipeline company’s stock worth $3,522,000 after buying an additional 181,484 shares during the period. 41.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Truist Financial boosted 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 lifted their price target on shares of Plains All American Pipeline from $17.50 to $18.00 and gave the stock a “neutral” rating in a research note on Monday. TD Securities upped their price objective on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Monday. StockNews.com cut Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus raised their price objective on Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.08.

Plains All American Pipeline Stock Performance

Shares of NYSE:PAA traded up $0.12 during trading on Monday, reaching $17.61. The stock had a trading volume of 4,022,551 shares, compared to its average volume of 3,463,333. 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 stock has a fifty day simple moving average of $17.40 and a two-hundred day simple moving average of $16.16. The firm has a market capitalization of $12.35 billion, a price-to-earnings ratio of 15.18 and a beta of 1.58. Plains All American Pipeline, L.P. has a 52 week low of $12.50 and a 52 week high of $19.03.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share. As a group, analysts anticipate that Plains All American Pipeline, L.P. will post 1.32 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 109.48%.

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.