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Investment House LLC Acquires Shares of 26,219 Plains All American Pipeline, L.P. (NYSE:PAA)

Investment House LLC acquired a new stake in Plains All American Pipeline, L.P. (NYSE:PAAGet Rating) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 26,219 shares of the pipeline company’s stock, valued at approximately $276,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in shares of Plains All American Pipeline by 38.9% during the first quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company’s stock worth $187,388,000 after purchasing an additional 4,880,244 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in Plains All American Pipeline by 4,193.8% during the first quarter. BNP Paribas Arbitrage SA now owns 2,506,010 shares of the pipeline company’s stock worth $26,965,000 after acquiring an additional 2,447,646 shares during the period. UBS Group AG grew its holdings in Plains All American Pipeline by 20.0% during the second quarter. UBS Group AG now owns 10,163,484 shares of the pipeline company’s stock worth $99,805,000 after acquiring an additional 1,696,004 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Plains All American Pipeline by 21.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,563,414 shares of the pipeline company’s stock worth $84,093,000 after acquiring an additional 1,520,490 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Plains All American Pipeline by 19.0% during the second quarter. JPMorgan Chase & Co. now owns 5,301,484 shares of the pipeline company’s stock worth $52,060,000 after acquiring an additional 845,000 shares during the period. Hedge funds and other institutional investors own 42.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PAA shares. StockNews.com lowered Plains All American Pipeline from a “buy” rating to a “hold” rating in a report on Tuesday, January 3rd. JPMorgan Chase & Co. lowered Plains All American Pipeline from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $15.00 to $14.00 in a report on Monday, November 21st. Wells Fargo & Company dropped their price objective on Plains All American Pipeline from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, November 4th. Truist Financial upped their target price on Plains All American Pipeline from $14.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 2nd. Finally, Citigroup initiated coverage on Plains All American Pipeline in a report on Thursday, December 8th. They issued a “buy” rating and a $14.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $12.11 on Friday. The business’s 50-day moving average price is $11.97 and its 200 day moving average price is $11.48. Plains All American Pipeline, L.P. has a twelve month low of $9.10 and a twelve month high of $12.75. The company has a market capitalization of $8.46 billion, a PE ratio of 8.35 and a beta of 1.69. The company has a current ratio of 1.05, a quick ratio of 0.93 and a debt-to-equity ratio of 0.76.

Plains All American Pipeline (NYSE:PAAGet Rating) last released its earnings results on Wednesday, November 2nd. The pipeline company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. Plains All American Pipeline had a return on equity of 9.41% and a net margin of 2.05%. The firm had revenue of $14.34 billion for the quarter, compared to the consensus estimate of $16.50 billion. During the same period in the prior year, the business posted $0.22 earnings per share. The firm’s revenue for the quarter was up 33.0% compared to the same quarter last year. On average, research analysts predict that Plains All American Pipeline, L.P. will post 1.27 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Tuesday, January 31st will be given a dividend of $0.2675 per share. The ex-dividend date of this dividend is Monday, January 30th. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.22. This represents a $1.07 annualized dividend and a yield of 8.84%. Plains All American Pipeline’s dividend payout ratio is 60.00%.

Plains All American Pipeline Company Profile

(Get Rating)

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.

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Want to see what other hedge funds are holding PAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plains All American Pipeline, L.P. (NYSE:PAAGet Rating).

Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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