BNP Paribas Financial Markets Grows 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 the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,684,860 shares of the company’s stock after purchasing an additional 31,093 shares during the period. BNP Paribas Financial Markets’ holdings in Plains All American Pipeline were worth $30,260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PAA. Newbridge Financial Services Group Inc. lifted 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 acquiring an additional 655 shares in the last quarter. Aventura Private Wealth LLC acquired a new stake in Plains All American Pipeline during the 4th quarter valued at approximately $42,000. Fulcrum Asset Management LLP acquired a new stake in Plains All American Pipeline during the 3rd quarter valued at approximately $50,000. Fifth Third Bancorp increased its stake in shares of Plains All American Pipeline by 257.3% in the third quarter. Fifth Third Bancorp now owns 4,256 shares of the company’s stock worth $73,000 after buying an additional 3,065 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of 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 purchasing an additional 3,149 shares during the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank Of Canada raised their price objective on Plains All American Pipeline from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 17th. Citigroup raised 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 report on Thursday, May 14th. Stifel Nicolaus upped their price objective on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Scotiabank raised their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Finally, Morgan Stanley raised their price target on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.64.

Plains All American Pipeline Price Performance

NASDAQ 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 company’s 50-day moving average is $22.32. 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 company has a market capitalization of $16.17 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 10.49 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA) last posted 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). The company had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. Plains All American Pipeline’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 EPS. On average, equities analysts expect that Plains All American Pipeline Lp will post 1.56 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.4175 dividend. The ex-dividend date was Friday, May 1st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.3%. Plains All American Pipeline’s payout ratio is presently 127.48%.

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.