Financial Sense Advisors Inc. Acquires 3,195 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Financial Sense Advisors Inc. boosted its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 29.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,884 shares of the pipeline company’s stock after acquiring an additional 3,195 shares during the period. Financial Sense Advisors Inc.’s holdings in Plains All American Pipeline were worth $244,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Capital Advisors Inc. OK acquired a new stake in shares of Plains All American Pipeline during the fourth quarter worth about $4,234,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Plains All American Pipeline by 9.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock valued at $195,561,000 after acquiring an additional 1,135,737 shares during the period. DRW Securities LLC bought a new stake in shares of Plains All American Pipeline in the fourth quarter valued at approximately $1,661,000. DAVENPORT & Co LLC bought a new stake in Plains All American Pipeline during the fourth quarter worth about $182,000. Finally, Principal Securities Inc. acquired a new position in Plains All American Pipeline during the fourth quarter valued at approximately $138,000. 41.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PAA has been the topic of several research reports. Citigroup boosted their price target on Plains All American Pipeline from $17.50 to $18.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. UBS Group upped their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley increased their price target on Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. The Goldman Sachs Group boosted their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Finally, Truist Financial increased their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Plains All American Pipeline has an average rating of “Moderate Buy” and a consensus target price of $19.38.

Plains All American Pipeline Stock Up 1.9 %

PAA stock opened at $18.90 on Thursday. The company’s 50 day moving average is $17.30 and its two-hundred day moving average is $16.69. Plains All American Pipeline, L.P. has a twelve month low of $13.88 and a twelve month high of $19.03. The stock has a market cap of $13.25 billion, a P/E ratio of 12.97 and a beta of 1.61. The company has a current ratio of 0.97, a quick ratio of 0.88 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. The company had revenue of $12 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same period last year, the company earned $0.41 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. Research analysts expect that Plains All American Pipeline, L.P. will post 1.29 earnings per share for the current fiscal year.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.