Wealthstar Advisors LLC Has $2.31 Million Stock Holdings in Plains All American Pipeline Lp $PAA

Wealthstar Advisors LLC grew its holdings in Plains All American Pipeline Lp (NASDAQ:PAA) by 152.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,580 shares of the company’s stock after acquiring an additional 62,477 shares during the period. Plains All American Pipeline accounts for approximately 1.1% of Wealthstar Advisors LLC’s holdings, making the stock its 14th largest position. Wealthstar Advisors LLC’s holdings in Plains All American Pipeline were worth $2,313,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Invesco Ltd. lifted its stake in shares of Plains All American Pipeline by 0.7% in the 4th quarter. Invesco Ltd. now owns 33,508,798 shares of the company’s stock valued at $601,818,000 after purchasing an additional 228,106 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Plains All American Pipeline by 17.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after purchasing an additional 3,033,216 shares in the last quarter. Morgan Stanley increased its position in Plains All American Pipeline by 40.2% during the fourth quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock worth $177,467,000 after buying an additional 2,833,161 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its position in Plains All American Pipeline by 2.9% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 9,542,156 shares of the company’s stock worth $171,377,000 after buying an additional 265,555 shares during the last quarter. Finally, BROOKFIELD Corp ON raised its holdings 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 valued at $124,112,000 after buying an additional 1,076,291 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Plains All American Pipeline in a research report on Friday, April 17th. Scotiabank increased their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. UBS Group reissued a “buy” rating on shares of Plains All American Pipeline in a research note on Tuesday, June 16th. Truist Financial started coverage on Plains All American Pipeline in a report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 target price for the company. Finally, Morgan Stanley upped their target price on Plains All American Pipeline from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Two research 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.93.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $22.51 on Friday. The company has a market capitalization of $15.88 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 10.32 and a beta of 0.50. 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 one year low of $15.69 and a one year high of $24.26. The company’s fifty day moving average price is $22.43 and its 200 day moving average price is $20.95.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly 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). The firm had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. Plains All American Pipeline’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. As a group, analysts expect that Plains All American Pipeline Lp will post 1.56 earnings per share 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 $0.4175 dividend. 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 dividend payout ratio (DPR) is 127.48%.

About Plains All American Pipeline

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.