Citigroup Inc. Purchases 80,788 Shares of Plains All American Pipeline, L.P. $PAA

Citigroup Inc. increased its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 17.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 535,200 shares of the pipeline company’s stock after purchasing an additional 80,788 shares during the period. Citigroup Inc. owned approximately 0.08% of Plains All American Pipeline worth $9,131,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Bollard Group LLC increased its position in shares of Plains All American Pipeline by 13.2% during the 2nd quarter. Bollard Group LLC now owns 1,131,158 shares of the pipeline company’s stock valued at $20,723,000 after purchasing an additional 132,008 shares during the last quarter. Inspire Investing LLC purchased a new position in Plains All American Pipeline during the third quarter worth $1,045,000. Advisors Asset Management Inc. increased its position in Plains All American Pipeline by 16.7% during the second quarter. Advisors Asset Management Inc. now owns 323,590 shares of the pipeline company’s stock valued at $5,928,000 after acquiring an additional 46,406 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Plains All American Pipeline by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the pipeline company’s stock valued at $122,814,000 after acquiring an additional 967,059 shares during the period. Finally, PFG Investments LLC lifted its holdings in shares of Plains All American Pipeline by 91.8% in the 3rd quarter. PFG Investments LLC now owns 130,443 shares of the pipeline company’s stock worth $2,225,000 after acquiring an additional 62,446 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Wall Street Analyst Weigh In

PAA has been the topic of several analyst reports. Scotiabank reiterated an “outperform” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. Wells Fargo & Company boosted their target price on Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, February 9th. Citigroup increased their price target on Plains All American Pipeline from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Morgan Stanley raised their price target on Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Finally, Barclays upped their price objective on Plains All American Pipeline from $17.00 to $18.00 and gave the company an “underweight” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.18.

Plains All American Pipeline Stock Up 1.4%

Shares of Plains All American Pipeline stock opened at $20.91 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The stock has a market cap of $14.75 billion, a price-to-earnings ratio of 28.64 and a beta of 0.60. The firm’s 50-day moving average is $19.22 and its two-hundred day moving average is $17.85. Plains All American Pipeline, L.P. has a 1 year low of $15.57 and a 1 year high of $21.06.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, February 6th. The pipeline company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was down 12.2% on a year-over-year basis. As a group, research analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were given a dividend of $0.4175 per share. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.67 annualized dividend and a yield of 8.0%. Plains All American Pipeline’s payout ratio is 100.60%.

Plains All American Pipeline Profile

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.