IronOak Wealth LLC. Makes New $310,000 Investment in Plains All American Pipeline, L.P. $PAA

Key Points

• IronOak Wealth LLC has acquired 16,923 shares of Plains All American Pipeline, valued at approximately $310,000, reflecting a growing interest from institutional investors.
• Plains All American Pipeline recently announced a quarterly dividend of $0.38 per share, yielding 8.9% with a high dividend payout ratio of 172.73%.
• Analysts have a consensus rating of "Hold" for Plains All American Pipeline, with a target price averaging $20.58, indicating varied outlooks on the stock's performance.

IronOak Wealth LLC. acquired a new position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,923 shares of the pipeline company's stock, valued at approximately $310,000.

Several other institutional investors also recently bought and sold shares of PAA. BROOKFIELD Corp ON increased its holdings in shares of Plains All American Pipeline by 50.2% during the 1st quarter. BROOKFIELD Corp ON now owns 5,698,359 shares of the pipeline company's stock valued at $113,967,000 after acquiring an additional 1,904,261 shares during the last quarter. Invesco Ltd. grew its holdings in Plains All American Pipeline by 6.4% during the first quarter. Invesco Ltd. now owns 29,599,382 shares of the pipeline company's stock valued at $591,988,000 after purchasing an additional 1,771,452 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Plains All American Pipeline by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company's stock valued at $422,894,000 after purchasing an additional 1,524,185 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Plains All American Pipeline by 7.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,463,963 shares of the pipeline company's stock worth $329,279,000 after acquiring an additional 1,166,369 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Plains All American Pipeline by 32.0% during the first quarter. BNP Paribas Financial Markets now owns 2,659,047 shares of the pipeline company's stock valued at $53,181,000 after acquiring an additional 645,001 shares during the period. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Price Performance

Shares of NYSE PAA traded down $0.14 during mid-day trading on Monday, hitting $16.88. 2,275,339 shares of the stock were exchanged, compared to its average volume of 3,449,001. Plains All American Pipeline, L.P. has a twelve month low of $15.57 and a twelve month high of $21.00. The stock's fifty day simple moving average is $17.84 and its two-hundred day simple moving average is $17.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The company has a market cap of $11.87 billion, a P/E ratio of 23.12 and a beta of 0.80.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.Plains All American Pipeline's revenue was down 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 earnings per share. As a group, analysts forecast that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.0%. Plains All American Pipeline's payout ratio is currently 172.73%.

Wall Street Analysts Forecast Growth

PAA has been the topic of a number of recent analyst reports. Citigroup set a $18.00 price objective on Plains All American Pipeline and gave the stock a "neutral" rating in a research note on Friday, August 8th. Wolfe Research reiterated a "peer perform" rating on shares of Plains All American Pipeline in a report on Friday, July 25th. JPMorgan Chase & Co. lowered their price objective on shares of Plains All American Pipeline from $21.00 to $20.00 and set a "neutral" rating on the stock in a research note on Thursday. Morgan Stanley cut their target price on shares of Plains All American Pipeline from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 26th. Finally, Barclays restated an "underweight" rating on shares of Plains All American Pipeline in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $20.58.

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.