Plains All American Pipeline Lp $PAA Shares Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lessened its position in Plains All American Pipeline Lp (NASDAQ:PAA) by 1.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,801,601 shares of the company’s stock after selling 52,915 shares during the period. Plains All American Pipeline makes up 1.7% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 18th largest holding. Miller Howard Investments Inc. NY’s holdings in Plains All American Pipeline were worth $62,560,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Plains All American Pipeline by 0.7% during the fourth quarter. Invesco Ltd. now owns 33,508,798 shares of the company’s stock worth $601,818,000 after acquiring an additional 228,106 shares during the period. Goldman Sachs Group Inc. lifted its position in Plains All American Pipeline by 17.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock valued at $360,097,000 after purchasing an additional 3,033,216 shares during the period. Morgan Stanley lifted its position in Plains All American Pipeline by 40.2% in the fourth quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock valued at $177,467,000 after purchasing an additional 2,833,161 shares during the period. Tortoise Capital Advisors L.L.C. boosted its holdings in Plains All American Pipeline by 2.9% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 9,542,156 shares of the company’s stock valued at $171,377,000 after purchasing an additional 265,555 shares in the last quarter. Finally, BROOKFIELD Corp ON increased its position in Plains All American Pipeline by 18.9% during the 2nd quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company’s stock worth $124,112,000 after purchasing an additional 1,076,291 shares during the period. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Up 2.0%

Shares of NASDAQ PAA opened at $21.91 on Wednesday. The firm’s 50-day moving average is $22.31 and its two-hundred day moving average is $20.73. The company has a market capitalization of $15.46 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 9.85 and a beta of 0.50. Plains All American Pipeline Lp has a 12-month low of $15.69 and a 12-month high of $24.26. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88.

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

Plains All American Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $0.4175 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.67 annualized dividend and a yield of 7.6%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 127.48%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PAA. Mizuho increased their target price on Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Scotiabank lifted their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Plains All American Pipeline in a report on Friday, April 17th. Wells Fargo & Company raised their target price on Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Finally, Stifel Nicolaus boosted their target price on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.93.

About Plains All American Pipeline

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.