Bluefin Capital Management LLC Grows Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Bluefin Capital Management LLC raised its holdings in Plains All American Pipeline, L.P. (NYSE:PAAFree Report) by 136.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,100 shares of the pipeline company’s stock after purchasing an additional 13,900 shares during the period. Bluefin Capital Management LLC’s holdings in Plains All American Pipeline were worth $364,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. DRW Securities LLC acquired a new position in shares of Plains All American Pipeline in the 4th quarter valued at approximately $1,661,000. Fort Sheridan Advisors LLC raised its position in shares of Plains All American Pipeline by 10.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 102,571 shares of the pipeline company’s stock valued at $1,554,000 after purchasing an additional 9,549 shares in the last quarter. Tortoise Index Solutions LLC raised its position in shares of Plains All American Pipeline by 13.3% in the 4th quarter. Tortoise Index Solutions LLC now owns 602,376 shares of the pipeline company’s stock valued at $9,126,000 after purchasing an additional 70,623 shares in the last quarter. Icon Wealth Advisors LLC acquired a new position in shares of Plains All American Pipeline in the 4th quarter valued at approximately $1,706,000. Finally, Bollard Group LLC raised its position in shares of Plains All American Pipeline by 1.7% in the 4th quarter. Bollard Group LLC now owns 952,395 shares of the pipeline company’s stock valued at $14,429,000 after purchasing an additional 15,530 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PAA has been the topic of a number of recent analyst reports. Scotiabank initiated coverage on Plains All American Pipeline in a research report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 target price on the stock. UBS Group upped their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, April 12th. StockNews.com lowered Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Citigroup upped their price target on Plains All American Pipeline from $17.50 to $18.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Finally, Truist Financial upped their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Plains All American Pipeline currently has a consensus rating of “Moderate Buy” and an average price target of $19.38.

Get Our Latest Stock Report on Plains All American Pipeline

Plains All American Pipeline Stock Performance

PAA traded down $0.17 during trading on Friday, reaching $16.52. 703,371 shares of the company were exchanged, compared to its average volume of 3,114,429. The stock has a market cap of $11.58 billion, a P/E ratio of 14.37 and a beta of 1.60. The firm has a 50 day moving average of $17.44 and a 200 day moving average of $16.48. The company has a current ratio of 0.97, a quick ratio of 0.88 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 52 week low of $13.11 and a 52 week high of $19.03.

Plains All American Pipeline (NYSE:PAAGet Free Report) last issued its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. On average, sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.29 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.3175 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.27 annualized dividend and a dividend yield of 7.69%. Plains All American Pipeline’s payout ratio is 109.48%.

Plains All American Pipeline Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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