Goldman Sachs Group Inc. Increases Position in Plains All American Pipeline Lp $PAA

Goldman Sachs Group Inc. lifted its holdings in Plains All American Pipeline Lp (NASDAQ:PAA) by 17.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,049,972 shares of the company’s stock after buying an additional 3,033,216 shares during the period. Goldman Sachs Group Inc.’s holdings in Plains All American Pipeline were worth $360,097,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 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 worth $41,000 after buying an additional 655 shares during the last quarter. Aventura Private Wealth LLC bought a new stake in shares of Plains All American Pipeline in the 4th quarter worth approximately $42,000. Fulcrum Asset Management LLP bought a new stake in shares of Plains All American Pipeline in the 3rd quarter worth approximately $50,000. Fifth Third Bancorp raised its holdings in shares of Plains All American Pipeline by 257.3% in the 3rd quarter. Fifth Third Bancorp now owns 4,256 shares of the company’s stock worth $73,000 after purchasing an additional 3,065 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of Plains All American Pipeline by 342.7% in the 4th quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock worth $73,000 after purchasing an additional 3,149 shares during the period. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $22.60 on Friday. The firm’s fifty day simple moving average is $22.33. 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 1 year low of $15.69 and a 1 year high of $24.26. The company has a market cap of $15.94 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 10.49 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA) last issued its earnings results on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $12.47 billion for the quarter. During the same quarter last year, the firm earned $0.39 earnings per share. Plains All American Pipeline’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts anticipate that Plains All American Pipeline Lp will post 1.56 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a dividend of $0.4175 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.67 dividend on an annualized basis and a yield of 7.4%. Plains All American Pipeline’s payout ratio is presently 127.48%.

Wall Street Analysts Forecast Growth

PAA has been the topic of a number of research reports. UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. The Goldman Sachs Group raised shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $18.00 to $24.00 in a report on Wednesday. Stifel Nicolaus lifted 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. US Capital Advisors cut shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Plains All American Pipeline in a report on Friday, April 17th. 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 given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.64.

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.