Acadian Asset Management LLC Grows Holdings in 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 boosted its holdings in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 1.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,621,174 shares of the pipeline company's stock after purchasing an additional 25,978 shares during the quarter. Acadian Asset Management LLC owned approximately 0.23% of Plains All American Pipeline worth $32,419,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PAA. Invesco Ltd. boosted its stake in Plains All American Pipeline by 6.4% in the 1st quarter. Invesco Ltd. now owns 29,599,382 shares of the pipeline company's stock worth $591,988,000 after purchasing an additional 1,771,452 shares during the period. Goldman Sachs Group Inc. boosted its stake in Plains All American Pipeline by 7.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company's stock worth $422,894,000 after purchasing an additional 1,524,185 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Plains All American Pipeline by 7.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,463,963 shares of the pipeline company's stock valued at $329,279,000 after purchasing an additional 1,166,369 shares in the last quarter. BNP Paribas Financial Markets raised its stake 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 purchasing an additional 645,001 shares in the last quarter. Finally, Walnut Private Equity Partners LLC bought a new position in Plains All American Pipeline during the first quarter valued at $10,500,000. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Trading Up 0.3%

NYSE PAA traded up $0.06 on Tuesday, hitting $17.35. 577,347 shares of the stock were exchanged, compared to its average volume of 3,474,310. 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 stock has a fifty day moving average price of $17.99 and a two-hundred day moving average price of $18.00. The firm has a market capitalization of $12.20 billion, a P/E ratio of 23.77 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.

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, topping 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%.During the same period last year, the business earned $0.31 EPS. The business's revenue was down 16.6% on a year-over-year basis. Research analysts forecast that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm 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 was Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a yield of 8.8%. Plains All American Pipeline's dividend payout ratio (DPR) is presently 172.73%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Plains All American Pipeline from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 26th. Zacks Research raised Plains All American Pipeline to a "hold" rating in a research note on Monday, August 11th. Citigroup set a $18.00 price objective on Plains All American Pipeline and gave the company a "neutral" rating in a research note on Friday, August 8th. Mizuho set a $22.00 price target on Plains All American Pipeline and gave the company an "outperform" rating in a report on Wednesday, June 18th. Finally, UBS Group set a $25.00 price objective on shares of Plains All American Pipeline and gave the stock a "buy" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price 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.