State of New Jersey Common Pension Fund D Increases Holdings in Plains All American Pipeline (PAA)

State of New Jersey Common Pension Fund D grew its holdings in Plains All American Pipeline (NYSE:PAA) by 49.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,019,100 shares of the pipeline company’s stock after buying an additional 339,400 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.14% of Plains All American Pipeline worth $22,451,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of PAA. Alps Advisors Inc. grew its stake in shares of Plains All American Pipeline by 2.8% in the 4th quarter. Alps Advisors Inc. now owns 34,909,603 shares of the pipeline company’s stock worth $720,534,000 after buying an additional 950,633 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its stake in shares of Plains All American Pipeline by 101.6% during the 1st quarter. Duff & Phelps Investment Management Co. now owns 1,810,500 shares of the pipeline company’s stock worth $39,885,000 after purchasing an additional 912,500 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Plains All American Pipeline during the 4th quarter worth about $13,565,000. TIAA CREF Investment Management LLC boosted its stake in shares of Plains All American Pipeline by 14.7% during the 4th quarter. TIAA CREF Investment Management LLC now owns 4,286,193 shares of the pipeline company’s stock worth $88,467,000 after purchasing an additional 548,056 shares during the period. Finally, Eagle Global Advisors LLC boosted its stake in shares of Plains All American Pipeline by 7.1% during the 4th quarter. Eagle Global Advisors LLC now owns 5,084,450 shares of the pipeline company’s stock worth $104,943,000 after purchasing an additional 335,946 shares during the period. 43.76% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently commented on PAA. Deutsche Bank began coverage on shares of Plains All American Pipeline in a research note on Thursday, April 19th. They set a “buy” rating and a $29.00 price target for the company. Bank of America dropped their price target on shares of Plains All American Pipeline from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Robert W. Baird set a $22.00 price target on shares of Plains All American Pipeline and gave the stock a “hold” rating in a research note on Wednesday, February 7th. Seaport Global Securities raised shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $23.00 to $25.00 in a research note on Thursday, February 8th. Finally, Zacks Investment Research raised shares of Plains All American Pipeline from a “sell” rating to a “hold” rating in a research note on Friday, March 16th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $25.88.

Plains All American Pipeline opened at $24.83 on Friday, MarketBeat reports. The stock has a market capitalization of $17.72 billion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 2.28 and a beta of 0.72. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.86 and a quick ratio of 0.73. Plains All American Pipeline has a 1 year low of $24.26 and a 1 year high of $24.52.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Tuesday, May 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $7.38 billion. Plains All American Pipeline had a net margin of 2.50% and a return on equity of 11.09%. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 EPS. research analysts expect that Plains All American Pipeline will post 1.38 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, April 30th. This represents a $1.20 annualized dividend and a yield of 4.83%. Plains All American Pipeline’s dividend payout ratio (DPR) is 127.66%.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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