RR Advisors LLC Acquires New Stake in Plains All American Pipeline Lp $PAA

RR Advisors LLC acquired a new stake in shares of Plains All American Pipeline Lp (NASDAQ:PAA) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 62,549 shares of the company’s stock, valued at approximately $1,392,000. Plains All American Pipeline accounts for 0.4% of RR Advisors LLC’s portfolio, making the stock its 25th biggest position.

A number of other large investors have also bought and sold shares of PAA. Financial Life Planners bought a new position in Plains All American Pipeline during the first quarter worth about $27,000. Allied Private Wealth LLC bought a new stake in shares of Plains All American Pipeline in the second quarter valued at approximately $33,000. Fulcrum Asset Management LLP bought a new stake in shares of Plains All American Pipeline in the third quarter valued at approximately $50,000. Farther Finance Advisors LLC lifted its stake 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 valued at $73,000 after buying an additional 3,149 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Plains All American Pipeline by 93.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,232 shares of the company’s stock valued at $78,000 after buying an additional 2,041 shares in the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on PAA shares. 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. UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a research note on Tuesday, June 16th. Truist Financial upped their price target on Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Barclays increased their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock an “underweight” rating in a report on Thursday, July 16th. Finally, Royal Bank Of Canada raised their price objective on shares of Plains All American Pipeline from $23.00 to $26.00 and gave the company a “sector perform” rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.54.

Plains All American Pipeline Price Performance

NASDAQ:PAA opened at $24.61 on Monday. The firm has a market capitalization of $17.36 billion, a price-to-earnings ratio of 6.82, a P/E/G ratio of 8.51 and a beta of 0.50. Plains All American Pipeline Lp has a 52-week low of $15.69 and a 52-week high of $25.03. The stock has a fifty day moving average of $23.21 and a 200 day moving average of $22.27. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.12.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings results on Friday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.09). The business had revenue of $17.69 billion during the quarter. Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The firm’s quarterly revenue was up 66.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. On average, research analysts expect that Plains All American Pipeline Lp will post 1.77 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.4175 per share. The ex-dividend date was Friday, July 31st. This represents a $1.67 annualized dividend and a yield of 6.8%. Plains All American Pipeline’s payout ratio is presently 46.26%.

Plains All American Pipeline Company 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.