BROOKFIELD Corp ON Purchases 2,992,549 Shares of Plains All American Pipeline Lp $PAA

BROOKFIELD Corp ON increased its position in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 428.2% during the 1st quarter, HoldingsChannel reports. The fund owned 3,691,435 shares of the company’s stock after purchasing an additional 2,992,549 shares during the quarter. Plains All American Pipeline accounts for about 0.1% of BROOKFIELD Corp ON’s investment portfolio, making the stock its 27th largest holding. BROOKFIELD Corp ON’s holdings in Plains All American Pipeline were worth $82,430,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PAA. Financial Life Planners bought a new stake in Plains All American Pipeline during the 1st quarter worth about $27,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Plains All American Pipeline by 40.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock valued at $41,000 after purchasing an additional 655 shares during the last quarter. Fulcrum Asset Management LLP bought a new position in shares of Plains All American Pipeline in the 3rd quarter valued at about $50,000. Scarborough Advisors LLC acquired a new stake in shares of Plains All American Pipeline during the 1st quarter worth approximately $80,000. Finally, Farther Finance Advisors LLC grew its position in shares of Plains All American Pipeline by 342.7% during the 4th quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock worth $73,000 after buying an additional 3,149 shares during the period. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $24.60 on Monday. The firm has a market capitalization of $17.36 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 9.71 and a beta of 0.50. The company’s 50 day simple moving average is $22.87 and its 200 day simple moving average is $21.59. 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 Lp has a fifty-two week low of $15.69 and a fifty-two week high of $24.87.

Plains All American Pipeline (NASDAQ:PAA) last issued its earnings results on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The firm had revenue of $12.47 billion during the quarter. During the same period in the previous year, the firm earned $0.39 earnings per share. The business’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Plains All American Pipeline Lp will post 1.55 EPS for the current year.

Plains All American Pipeline Dividend Announcement

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

Analyst Upgrades and Downgrades

PAA has been the topic of several analyst reports. Scotiabank increased their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. US Capital Advisors lowered shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Morgan Stanley upped their target price on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research note on Tuesday, July 21st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Plains All American Pipeline in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.