251,729 Shares in Plains All American Pipeline, L.P. (NYSE:PAA) Bought by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 251,729 shares of the pipeline company’s stock, valued at approximately $4,420,000.

Several other institutional investors have also modified their holdings of the stock. Clarus Group Inc. raised its stake in Plains All American Pipeline by 1.0% in the 1st quarter. Clarus Group Inc. now owns 69,515 shares of the pipeline company’s stock valued at $1,221,000 after purchasing an additional 682 shares during the last quarter. Covenant Asset Management LLC lifted its stake in shares of Plains All American Pipeline by 3.7% in the first quarter. Covenant Asset Management LLC now owns 22,036 shares of the pipeline company’s stock worth $387,000 after buying an additional 795 shares in the last quarter. First National Trust Co boosted its position in Plains All American Pipeline by 10.1% during the fourth quarter. First National Trust Co now owns 11,277 shares of the pipeline company’s stock worth $171,000 after acquiring an additional 1,038 shares during the last quarter. Wealth Alliance Advisory Group LLC grew its stake in Plains All American Pipeline by 1.3% during the 4th quarter. Wealth Alliance Advisory Group LLC now owns 83,690 shares of the pipeline company’s stock valued at $1,268,000 after acquiring an additional 1,112 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its holdings in Plains All American Pipeline by 3.5% in the 4th quarter. Axxcess Wealth Management LLC now owns 34,910 shares of the pipeline company’s stock valued at $529,000 after acquiring an additional 1,195 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Trading Up 1.1 %

Shares of Plains All American Pipeline stock traded up $0.20 on Monday, reaching $18.64. The company had a trading volume of 641,512 shares, compared to its average volume of 2,958,773. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 0.97. The firm has a market cap of $13.07 billion, a PE ratio of 15.98 and a beta of 1.61. The firm’s 50 day moving average price is $17.45 and its two-hundred day moving average price is $16.89. Plains All American Pipeline, L.P. has a 52-week low of $14.25 and a 52-week high of $19.03.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $12 billion during 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 company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business posted $0.41 earnings per share. Sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.31 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be given a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date of this dividend is Wednesday, July 31st. Plains All American Pipeline’s dividend payout ratio is currently 109.48%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PAA. Stifel Nicolaus boosted 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, April 16th. Royal Bank of Canada upped their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Tuesday, May 14th. Morgan Stanley lifted their price target on Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Wells Fargo & Company boosted their price target on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Finally, Truist Financial raised their price objective on shares of 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. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.42.

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.