Plains All American Pipeline Lp $PAA is Longfellow Investment Management Co. LLC’s 5th Largest Position

Longfellow Investment Management Co. LLC grew its holdings in Plains All American Pipeline Lp (NASDAQ:PAA) by 21.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,594,440 shares of the company’s stock after purchasing an additional 281,609 shares during the period. Plains All American Pipeline comprises approximately 6.5% of Longfellow Investment Management Co. LLC’s investment portfolio, making the stock its 5th largest position. Longfellow Investment Management Co. LLC’s holdings in Plains All American Pipeline were worth $28,636,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Alps Advisors Inc. increased its position in Plains All American Pipeline by 2.2% during the third quarter. Alps Advisors Inc. now owns 76,066,823 shares of the company’s stock worth $1,297,700,000 after buying an additional 1,663,908 shares during the last quarter. Invesco Ltd. increased its position in Plains All American Pipeline by 2.1% during the third quarter. Invesco Ltd. now owns 33,280,692 shares of the company’s stock worth $567,769,000 after buying an additional 677,959 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Plains All American Pipeline by 17.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after buying an additional 3,033,216 shares during the last quarter. JPMorgan Chase & Co. increased its position in Plains All American Pipeline by 15.5% during 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 during the last quarter. Finally, BROOKFIELD Corp ON increased its position in 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 worth $124,112,000 after buying an additional 1,076,291 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Wall Street Analysts Forecast Growth

PAA has been the topic of several analyst reports. Barclays increased their target price on shares of Plains All American Pipeline from $18.00 to $21.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. US Capital Advisors downgraded shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Truist Financial initiated coverage on shares of Plains All American Pipeline in a research report on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price on the stock. The Goldman Sachs Group raised shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and increased their target price for the stock from $18.00 to $24.00 in a research report on Wednesday. Finally, Wells Fargo & Company raised their price target on Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.64.

Plains All American Pipeline Stock Performance

Shares of NASDAQ:PAA opened at $22.60 on Friday. The firm has a market capitalization of $15.94 billion, a P/E ratio of 17.25, a P/E/G ratio of 10.35 and a beta of 0.50. The company has a 50-day simple moving average of $22.33. 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 current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02.

Plains All American Pipeline (NASDAQ:PAA) last released its earnings results on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $12.47 billion for the quarter. During the same quarter in the previous year, the business posted $0.39 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts predict that Plains All American Pipeline Lp will post 1.56 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a dividend of $0.4175 per share. The ex-dividend date 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 dividend payout ratio (DPR) is currently 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.