Nicholas Wealth LLC. Takes Position in Plains All American Pipeline Lp $PAA

Nicholas Wealth LLC. acquired a new stake in Plains All American Pipeline Lp (NASDAQ:PAA) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 56,975 shares of the company’s stock, valued at approximately $1,272,000.

Several other large investors also recently bought and sold shares of PAA. CIBC Bancorp USA Inc. purchased a new position in shares of Plains All American Pipeline in the third quarter worth $87,462,000. Goldman Sachs Group Inc. increased its position in shares of Plains All American Pipeline by 17.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock valued at $360,097,000 after acquiring an additional 3,033,216 shares during the period. Morgan Stanley increased its position in shares of Plains All American Pipeline by 40.2% in the 4th quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock valued at $177,467,000 after acquiring an additional 2,833,161 shares during the period. Berkley W R Corp purchased a new position in Plains All American Pipeline in the 3rd quarter worth $32,871,000. Finally, Cohen & Steers Inc. raised its stake in Plains All American Pipeline by 97.9% in the 4th quarter. Cohen & Steers Inc. now owns 2,502,309 shares of the company’s stock worth $44,941,000 after acquiring an additional 1,237,877 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PAA. Citigroup boosted their price target on Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. The Goldman Sachs Group raised Plains All American Pipeline from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $18.00 to $24.00 in a report on Wednesday, June 3rd. Mizuho upped their target price on Plains All American Pipeline from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Stifel Nicolaus increased their price target on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Finally, US Capital Advisors lowered shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.93.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $21.85 on Friday. Plains All American Pipeline Lp has a 52-week low of $15.69 and a 52-week high of $24.26. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a market cap of $15.42 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 10.02 and a beta of 0.50. The business has a 50-day simple moving average of $22.32 and a 200-day simple moving average of $20.79.

Plains All American Pipeline (NASDAQ:PAA) last posted 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 return on equity of 12.17% and a net margin of 2.53%.The company had revenue of $12.47 billion for the quarter. During the same quarter last year, the business posted $0.39 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. 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 company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend was Friday, May 1st. Plains All American Pipeline’s payout ratio is 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.