753,200 Shares in Plains All American Pipeline Lp $PAA Bought by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC bought a new stake in Plains All American Pipeline Lp (NASDAQ:PAA) during the 1st quarter, Holdings Channel reports. The institutional investor bought 753,200 shares of the company’s stock, valued at approximately $16,819,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in shares of Plains All American Pipeline by 17.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock valued at $360,097,000 after acquiring an additional 3,033,216 shares during the last quarter. Morgan Stanley lifted its stake in Plains All American Pipeline by 40.2% during the fourth quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock worth $177,467,000 after purchasing an additional 2,833,161 shares during the last quarter. Cohen & Steers Inc. lifted its stake in Plains All American Pipeline by 97.9% during the fourth quarter. Cohen & Steers Inc. now owns 2,502,309 shares of the company’s stock worth $44,941,000 after purchasing an additional 1,237,877 shares during the last quarter. BROOKFIELD Corp ON boosted its holdings in Plains All American Pipeline by 18.9% in the second quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company’s stock valued at $124,112,000 after purchasing an additional 1,076,291 shares in the last quarter. Finally, Berkley W R Corp boosted its holdings in Plains All American Pipeline by 39.3% in the fourth quarter. Berkley W R Corp now owns 2,684,307 shares of the company’s stock valued at $48,210,000 after purchasing an additional 757,505 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $24.69 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The firm has a market cap of $17.42 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 9.65 and a beta of 0.50. The company’s 50 day simple moving average is $22.83 and its 200-day simple moving average is $21.54. Plains All American Pipeline Lp has a 12-month low of $15.69 and a 12-month high of $24.81.

Plains All American Pipeline (NASDAQ:PAA) last announced its earnings results on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate 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 earned $0.39 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities analysts predict that Plains All American Pipeline Lp will post 1.55 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Friday, July 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is 127.48%.

Analysts Set New Price Targets

PAA has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Plains All American Pipeline in a report on Wednesday, July 15th. Truist Financial upped their target price on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Barclays increased their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. The Goldman Sachs Group raised shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and boosted their price target for the company from $18.00 to $24.00 in a research report on Wednesday, June 3rd. Finally, Citigroup upped their price objective on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Plains All American Pipeline currently has a consensus rating of “Hold” and a consensus target price of $23.23.

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.