Maryland State Retirement & Pension System Takes Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Maryland State Retirement & Pension System acquired a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 108,085 shares of the pipeline company's stock, valued at approximately $1,271,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Plains All American Pipeline by 38.9% during the 1st quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company's stock worth $187,388,000 after purchasing an additional 4,880,244 shares during the period. ING Groep NV grew its holdings in shares of Plains All American Pipeline by 671.2% during the 3rd quarter. ING Groep NV now owns 3,902,900 shares of the pipeline company's stock worth $41,059,000 after purchasing an additional 3,396,800 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of Plains All American Pipeline by 4,193.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,506,010 shares of the pipeline company's stock worth $26,965,000 after purchasing an additional 2,447,646 shares during the period. Tortoise Capital Advisors L.L.C. grew its holdings in shares of Plains All American Pipeline by 5.6% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 21,865,980 shares of the pipeline company's stock worth $230,030,000 after purchasing an additional 1,168,107 shares during the period. Finally, Kayne Anderson Capital Advisors LP grew its holdings in shares of Plains All American Pipeline by 10.0% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 9,984,050 shares of the pipeline company's stock worth $105,032,000 after purchasing an additional 904,900 shares during the period. Institutional investors and hedge funds own 42.26% of the company's stock.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock opened at $12.13 on Wednesday. The stock has a market cap of $8.47 billion, a P/E ratio of 10.19 and a beta of 1.70. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $12.62 and a 200-day moving average of $12.07. Plains All American Pipeline, L.P. has a 52 week low of $9.10 and a 52 week high of $13.49.

Plains All American Pipeline (NYSE:PAA – Get Rating) last released its earnings results on Tuesday, February 14th. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The business had revenue of $12.95 billion for the quarter, compared to analysts' expectations of $15.05 billion. Plains All American Pipeline had a net margin of 1.72% and a return on equity of 9.81%. The business's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share. On average, analysts expect that Plains All American Pipeline, L.P. will post 1.14 EPS for the current fiscal year.

Plains All American Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Tuesday, January 31st were given a dividend of $0.2675 per share. This is a positive change from Plains All American Pipeline's previous quarterly dividend of $0.22. This represents a $1.07 annualized dividend and a dividend yield of 8.82%. The ex-dividend date was Monday, January 30th. Plains All American Pipeline's dividend payout ratio is currently 89.92%.

Analyst Upgrades and Downgrades

PAA has been the subject of a number of research reports. Truist Financial boosted their target price on Plains All American Pipeline from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, December 2nd. StockNews.com cut Plains All American Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday. Sanford C. Bernstein cut Plains All American Pipeline from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $15.00 to $14.50 in a report on Tuesday, February 7th. Mizuho upped their price target on Plains All American Pipeline from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, February 1st. Finally, JPMorgan Chase & Co. upped their price target on Plains All American Pipeline from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, March 9th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $15.17.

About Plains All American Pipeline

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Plains All American Pipeline LP engages in the operation of midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids, and natural gas. It operates through the Crude Oil and Natural Gas Liquids (NGL) segments. The Crude Oil segment refers to the pipeline transportation, terminalling, storage, and gathering assets.

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