Plains All American Pipeline Lp $PAA Shares Newly Purchased by Venture Visionary Partners LLC

Venture Visionary Partners LLC acquired a new position in Plains All American Pipeline Lp (NASDAQ:PAA) during the third quarter, HoldingsChannel.com reports. The fund acquired 20,804 shares of the company’s stock, valued at approximately $493,000.

Other institutional investors have also added to or reduced their stakes in the company. BROOKFIELD Corp ON increased its position in Plains All American Pipeline by 428.2% during the 1st quarter. BROOKFIELD Corp ON now owns 3,691,435 shares of the company’s stock valued at $82,430,000 after purchasing an additional 2,992,549 shares during the period. Infrastructure Capital Advisors LLC lifted its position in shares of Plains All American Pipeline by 4.4% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 3,089,992 shares of the company’s stock worth $69,000,000 after purchasing an additional 130,164 shares during the period. Cohen & Steers Inc. boosted its stake in shares of Plains All American Pipeline by 97.9% in the 4th quarter. Cohen & Steers Inc. now owns 2,502,309 shares of the company’s stock valued at $44,941,000 after purchasing an additional 1,237,877 shares during the last quarter. Bollard Group LLC boosted its stake in shares of Plains All American Pipeline by 7.7% in the 1st quarter. Bollard Group LLC now owns 1,215,856 shares of the company’s stock valued at $27,150,000 after purchasing an additional 86,602 shares during the last quarter. Finally, NEOS Investment Management LLC increased its position in shares of Plains All American Pipeline by 34.6% during the second quarter. NEOS Investment Management LLC now owns 774,913 shares of the company’s stock worth $17,250,000 after buying an additional 199,296 shares during the period. 41.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PAA has been the topic of a number of research analyst reports. Jefferies Financial Group assumed coverage on shares of Plains All American Pipeline in a research report on Friday. They set a “buy” rating and a $27.00 price target on the stock. JPMorgan Chase & Co. upped their target price on Plains All American Pipeline from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. Raymond James Financial reiterated a “strong-buy” rating and issued a $27.00 target price on shares of Plains All American Pipeline in a report on Monday, September 21st. Mizuho increased their price target on Plains All American Pipeline from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, September 21st. Finally, Morgan Stanley raised their price objective on shares of Plains All American Pipeline from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.73.

Plains All American Pipeline Trading Down 0.3%

NASDAQ PAA opened at $24.34 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Plains All American Pipeline Lp has a 52 week low of $15.69 and a 52 week high of $26.39. The business has a 50 day moving average price of $24.62 and a 200-day moving average price of $23.30. The company has a market cap of $17.17 billion, a price-to-earnings ratio of 6.74, a P/E/G ratio of 8.49 and a beta of 0.57.

Plains All American Pipeline (NASDAQ:PAA) last issued its earnings results on Friday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%. The firm had revenue of $17.69 billion during the quarter. During the same quarter in the prior year, the company posted $0.36 EPS. The firm’s quarterly revenue was up 66.3% compared to the same quarter last year. As a group, equities analysts expect that Plains All American Pipeline Lp will post 1.77 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Friday, October 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 46.26%.

Plains All American Pipeline Profile

Plains All American Pipeline, L.P. is a publicly traded master limited partnership that provides midstream energy infrastructure and logistics services. The company primarily transports, stores and handles crude oil and natural gas liquids (NGLs) for producers, refiners, exporters and other energy customers.

Its operations include pipeline transportation, gathering systems, storage terminals, rail and truck facilities, and other supply-chain assets. Plains also provides terminalling, inventory management and related logistics services that connect production areas with refineries, processing facilities and export markets.

Plains All American serves key producing regions in the United States and Canada, with a significant presence in the Permian Basin and other North American oil and NGL markets.