MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Reduces Stake in Plains All American Pipeline Lp $PAA

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in Plains All American Pipeline Lp (NASDAQ:PAA) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,605,843 shares of the company’s stock after selling 371,001 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 2.21% of Plains All American Pipeline worth $266,236,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. boosted its holdings in Plains All American Pipeline by 10.1% in the second quarter. Invesco Ltd. now owns 32,602,733 shares of the company’s stock valued at $597,282,000 after acquiring an additional 3,003,351 shares in the last quarter. Berkley W R Corp bought a new stake in shares of Plains All American Pipeline during the 3rd quarter valued at about $32,871,000. Alps Advisors Inc. boosted its stake in shares of Plains All American Pipeline by 2.2% during the 3rd quarter. Alps Advisors Inc. now owns 76,066,823 shares of the company’s stock valued at $1,297,700,000 after purchasing an additional 1,663,908 shares in the last quarter. BROOKFIELD Corp ON increased its position in shares of Plains All American Pipeline by 18.9% during the second quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company’s stock valued at $124,112,000 after buying an additional 1,076,291 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in 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 buying an additional 967,059 shares in the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PAA. Royal Bank Of Canada upped their target price on Plains All American Pipeline from $20.00 to $21.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. Zacks Research cut Plains All American Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Citigroup raised their price objective on Plains All American Pipeline from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Bank of America cut shares of Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 target price on the stock. in a report on Wednesday, January 28th. Finally, Wall Street Zen lowered shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Sunday, January 4th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $21.58.

Plains All American Pipeline Trading Down 0.4%

Shares of NASDAQ:PAA opened at $21.24 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The company’s fifty day moving average is $20.02. Plains All American Pipeline Lp has a 12-month low of $15.57 and a 12-month high of $22.29. The stock has a market capitalization of $14.98 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 3.39 and a beta of 0.58.

Plains All American Pipeline (NASDAQ:PAA) last released its earnings results on Friday, February 6th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 10.76% and a net margin of 3.21%.During the same period in the previous year, the firm earned $0.42 earnings per share. Plains All American Pipeline’s quarterly revenue was down 12.2% on a year-over-year basis.

Plains All American Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a dividend of $0.4175 per share. The ex-dividend date was Friday, January 30th. This represents a $1.67 dividend on an annualized basis and a yield of 7.9%. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.38. Plains All American Pipeline’s dividend payout ratio (DPR) is 100.60%.

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.