Cohen & Steers Inc. Buys 1,237,877 Shares of Plains All American Pipeline Lp $PAA

Cohen & Steers Inc. lifted its holdings in Plains All American Pipeline Lp (NASDAQ:PAA) by 97.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,502,309 shares of the company’s stock after purchasing an additional 1,237,877 shares during the period. Cohen & Steers Inc. owned 0.35% of Plains All American Pipeline worth $44,941,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PAA. CIBC Bancorp USA Inc. bought a new position in shares of Plains All American Pipeline in the third quarter worth about $87,462,000. Goldman Sachs Group Inc. increased its stake in shares of Plains All American Pipeline by 17.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after purchasing an additional 3,033,216 shares during the period. Berkley W R Corp bought a new position in shares of Plains All American Pipeline in the third quarter worth about $32,871,000. BROOKFIELD Corp ON increased its stake in shares of 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 worth $124,112,000 after purchasing an additional 1,076,291 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Plains All American Pipeline by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the company’s stock worth $122,814,000 after purchasing an additional 967,059 shares during the period. 41.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group upgraded Plains All American Pipeline from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $18.00 to $24.00 in a research note on Wednesday, June 3rd. Barclays boosted their price target on Plains All American Pipeline from $18.00 to $21.00 and gave the company an “underweight” rating in a research note on Friday, April 10th. Weiss Ratings restated a “buy (b)” rating on shares of Plains All American Pipeline in a research note on Friday, April 17th. US Capital Advisors lowered Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. Finally, Morgan Stanley boosted their price target on Plains All American Pipeline from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note 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 issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.93.

Plains All American Pipeline Stock Down 0.2%

Shares of PAA opened at $22.44 on Friday. Plains All American Pipeline Lp has a 12-month low of $15.69 and a 12-month high of $24.26. The company has a market capitalization of $15.83 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 10.31 and a beta of 0.50. The firm’s 50-day moving average price is $22.36. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02.

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

Plains All American Pipeline Dividend Announcement

The business 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. This represents a $1.67 annualized dividend and a dividend yield of 7.4%. The ex-dividend date was Friday, May 1st. Plains All American Pipeline’s dividend payout ratio is currently 127.48%.

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.