Acadian Asset Management LLC Acquires 25,978 Shares of Plains All American Pipeline, L.P. $PAA

Key Points

• Acadian Asset Management LLC increased its stake in Plains All American Pipeline, L.P. by 1.6%, acquiring an additional 25,978 shares, which brought its total ownership to 1,621,174 shares valued at approximately $32.4 million.
• The company recently announced a quarterly dividend of $0.38 per share, resulting in an annualized dividend yield of 8.7%, although its dividend payout ratio is currently high at 172.73%.
• Recent analyst ratings show a consensus of "Hold" for Plains All American Pipeline, with target prices set at $18.00 to $20.00 from various brokerages.

Acadian Asset Management LLC raised its holdings in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,621,174 shares of the pipeline company's stock after buying an additional 25,978 shares during the period. Acadian Asset Management LLC owned about 0.23% of Plains All American Pipeline worth $32,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Plains All American Pipeline by 31.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,970 shares of the pipeline company's stock valued at $879,000 after buying an additional 10,412 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Plains All American Pipeline by 5.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 56,334 shares of the pipeline company's stock valued at $1,127,000 after buying an additional 2,891 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in Plains All American Pipeline by 32.1% during the 1st quarter. Stratos Wealth Partners LTD. now owns 28,283 shares of the pipeline company's stock valued at $566,000 after acquiring an additional 6,874 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Plains All American Pipeline during the 1st quarter worth $218,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Plains All American Pipeline by 61.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 76,070 shares of the pipeline company's stock worth $1,521,000 after acquiring an additional 28,916 shares in the last quarter. 41.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PAA. Zacks Research upgraded shares of Plains All American Pipeline to a "hold" rating in a report on Monday, August 11th. Wall Street Zen upgraded shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. set a $20.00 target price on shares of Plains All American Pipeline in a report on Friday, August 8th. Citigroup set a $18.00 target price on shares of Plains All American Pipeline and gave the company a "neutral" rating in a report on Friday, August 8th. Finally, Barclays reiterated an "underweight" rating on shares of Plains All American Pipeline in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $20.58.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $17.39 on Thursday. 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 firm has a market cap of $12.23 billion, a price-to-earnings ratio of 23.82 and a beta of 0.80. Plains All American Pipeline, L.P. has a 52 week low of $15.57 and a 52 week high of $21.00. The firm's 50-day simple moving average is $18.06 and its two-hundred day simple moving average is $18.09.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its 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 net margin of 1.54% and a return on equity of 11.69%. During the same quarter in the prior year, the company posted $0.31 earnings per share. The firm's revenue was down 16.6% compared to the same quarter last year. As a group, equities analysts forecast that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date of this dividend was Thursday, July 31st. Plains All American Pipeline's dividend payout ratio is currently 172.73%.

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.

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