BNP Paribas Financial Markets Boosts Stock Position in Plains All American Pipeline Lp $PAA

BNP Paribas Financial Markets boosted its position in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,684,860 shares of the company’s stock after acquiring an additional 31,093 shares during the period. BNP Paribas Financial Markets owned 0.24% of Plains All American Pipeline worth $30,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Newbridge Financial Services Group Inc. raised its stake in shares of Plains All American Pipeline by 40.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $41,000 after purchasing an additional 655 shares during the last quarter. Aventura Private Wealth LLC purchased a new position in Plains All American Pipeline during the fourth quarter worth approximately $42,000. Fulcrum Asset Management LLP acquired a new stake in Plains All American Pipeline in the 3rd quarter valued at $50,000. Fifth Third Bancorp increased its holdings in Plains All American Pipeline by 257.3% in the 3rd quarter. Fifth Third Bancorp now owns 4,256 shares of the company’s stock worth $73,000 after acquiring an additional 3,065 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Plains All American Pipeline by 342.7% in 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 in the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $22.92 on Friday. Plains All American Pipeline Lp has a fifty-two week low of $15.69 and a fifty-two week high of $24.26. The business’s 50-day simple moving average is $22.32. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $16.17 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 10.49 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings results 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 company had revenue of $12.47 billion for the quarter. During the same quarter in the previous year, the business posted $0.39 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts forecast that Plains All American Pipeline Lp will post 1.56 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend was Friday, May 1st. Plains All American Pipeline’s dividend payout ratio (DPR) is 127.48%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PAA. Citigroup lifted their target price on shares of 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. US Capital Advisors downgraded Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Weiss Ratings restated a “buy (b)” rating on shares of Plains All American Pipeline in a research report on Friday, April 17th. Truist Financial started coverage on Plains All American Pipeline in a research note on Tuesday, March 24th. They issued a “buy” rating and a $23.00 target price for the company. Finally, UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. Two equities research 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, the stock has an average rating of “Hold” and a consensus price target of $22.64.

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.