Americana Partners LLC Purchases 304,247 Shares of Plains All American Pipeline Lp $PAA

Key Points

• Americana Partners LLC more than doubled its stake in Plains All American Pipeline in the fourth quarter, buying an additional 304,247 shares to bring its total holdings to 578,541 shares worth about $10.39 million.
• Analyst sentiment remains mixed, with several firms raising price targets, but the stock’s overall consensus rating is still “Hold” and the average target price is $22.54.
• Plains All American Pipeline reported earnings and dividends: quarterly EPS came in at $0.39, slightly below estimates, while revenue rose 8.7% year over year; the company also paid a $0.4175 quarterly dividend, implying a 6.9% yield.

Americana Partners LLC grew its position in shares of Plains All American Pipeline Lp (NASDAQ:PAA - Free Report) by 110.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 578,541 shares of the company's stock after acquiring an additional 304,247 shares during the quarter. Americana Partners LLC owned about 0.08% of Plains All American Pipeline worth $10,391,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Newbridge Financial Services Group Inc. lifted its position in Plains All American Pipeline by 40.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company's stock worth $41,000 after buying an additional 655 shares during the last quarter. Sippican Capital Advisors increased its stake in Plains All American Pipeline by 2.4% in the fourth quarter. Sippican Capital Advisors now owns 32,800 shares of the company's stock worth $589,000 after purchasing an additional 775 shares during the period. Equitable Holdings Inc. increased its stake in Plains All American Pipeline by 5.0% in the third quarter. Equitable Holdings Inc. now owns 18,428 shares of the company's stock worth $314,000 after purchasing an additional 875 shares during the period. Clarus Group Inc. increased its stake in Plains All American Pipeline by 0.8% in the fourth quarter. Clarus Group Inc. now owns 114,399 shares of the company's stock worth $2,055,000 after purchasing an additional 877 shares during the period. Finally, Quantinno Capital Management LP increased its stake in Plains All American Pipeline by 3.4% in the second quarter. Quantinno Capital Management LP now owns 31,233 shares of the company's stock worth $572,000 after purchasing an additional 1,034 shares during the period. 41.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PAA. Barclays increased their target price on Plains All American Pipeline from $18.00 to $21.00 and gave the stock an "underweight" rating in a research note on Friday, April 10th. Citigroup increased their target price on Plains All American Pipeline from $20.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Mizuho set a $23.00 target price on Plains All American Pipeline in a research note on Friday, January 23rd. Morgan Stanley increased their target price on Plains All American Pipeline from $23.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, Truist Financial began coverage on Plains All American Pipeline in a research note on Tuesday, March 24th. They issued a "buy" rating and a $23.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, five have assigned 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 presently has an average rating of "Hold" and an average target price of $22.54.

Plains All American Pipeline Stock Up 2.0%

Shares of NASDAQ:PAA opened at $24.15 on Friday. Plains All American Pipeline Lp has a 52-week low of $15.69 and a 52-week high of $24.26. The stock has a market capitalization of $17.04 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 3.13 and a beta of 0.51. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.94. The business has a 50-day moving average price of $22.06.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The company's quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 EPS. As a group, equities analysts anticipate that Plains All American Pipeline Lp will post 1.59 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a $0.4175 dividend. The ex-dividend date was Friday, May 1st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.9%. Plains All American Pipeline's payout ratio is 127.48%.

Plains All American Pipeline Profile

Plains All American Pipeline NASDAQ: PAA is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.

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