Cohen & Steers Inc. Buys 1,237,877 Shares of Plains All American Pipeline Lp $PAA

Cohen & Steers Inc. grew its stake in Plains All American Pipeline Lp (NASDAQ:PAA) by 97.9% during the 4th quarter, HoldingsChannel reports. The firm owned 2,502,309 shares of the company’s stock after acquiring an additional 1,237,877 shares during the quarter. Cohen & Steers Inc.’s holdings in Plains All American Pipeline were worth $44,941,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Newbridge Financial Services Group Inc. grew its position in Plains All American Pipeline by 40.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $41,000 after acquiring an additional 655 shares during the last quarter. Aventura Private Wealth LLC bought a new stake in Plains All American Pipeline during the 4th quarter worth approximately $42,000. Fulcrum Asset Management LLP bought a new stake in Plains All American Pipeline during the 3rd quarter worth approximately $50,000. Farther Finance Advisors LLC grew its position in Plains All American Pipeline by 342.7% during the 4th quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock worth $73,000 after acquiring an additional 3,149 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Plains All American Pipeline by 93.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,232 shares of the company’s stock worth $78,000 after acquiring an additional 2,041 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $22.44 on Friday. The company has a market cap of $15.83 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 10.31 and a beta of 0.50. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88. The company has a fifty day moving average price of $22.36. Plains All American Pipeline Lp has a 52 week low of $15.69 and a 52 week high of $24.26.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The firm had revenue of $12.47 billion during the quarter. During the same quarter last year, the firm earned $0.39 EPS. The business’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts forecast that Plains All American Pipeline Lp will post 1.56 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 7.4%. The ex-dividend date was Friday, May 1st. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 127.48%.

Analyst Ratings Changes

PAA has been the topic of a number of research analyst reports. Scotiabank increased their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Morgan Stanley increased their price target on Plains All American Pipeline from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. US Capital Advisors lowered Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Citigroup increased their price objective on Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Finally, Truist Financial started coverage on Plains All American Pipeline in a research report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline presently has an average rating of “Hold” and a consensus target price of $22.93.

Plains All American Pipeline Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.