Plains All American Pipeline, L.P. $PAA Shares Purchased by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets increased its position in Plains All American Pipeline by 32.0%, owning approximately 2.66 million shares valued at $53.18 million.
• Plains All American Pipeline recently declared a quarterly dividend of $0.38 per share, yielding 8.4% annually, with a dividend payout ratio of 172.73%.
• The company reported $0.36 EPS for the last quarter, surpassing analyst expectations of $0.33, although its revenue decreased by 16.6% year-over-year.

BNP Paribas Financial Markets grew its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 32.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,659,047 shares of the pipeline company's stock after buying an additional 645,001 shares during the quarter. BNP Paribas Financial Markets owned 0.38% of Plains All American Pipeline worth $53,181,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PAA. Callodine Capital Management LP lifted its stake in shares of Plains All American Pipeline by 50.0% during the 1st quarter. Callodine Capital Management LP now owns 150,000 shares of the pipeline company's stock worth $3,000,000 after purchasing an additional 50,000 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in Plains All American Pipeline during the 1st quarter valued at about $277,000. FORA Capital LLC acquired a new position in Plains All American Pipeline during the 1st quarter valued at about $343,000. Southeast Asset Advisors LLC acquired a new position in Plains All American Pipeline during the 1st quarter valued at about $300,000. Finally, Northern Trust Corp increased its position in Plains All American Pipeline by 89.8% during the 1st quarter. Northern Trust Corp now owns 987,252 shares of the pipeline company's stock valued at $19,745,000 after buying an additional 466,991 shares in the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PAA. JPMorgan Chase & Co. set a $20.00 target price on Plains All American Pipeline in a research report on Friday, August 8th. Barclays reaffirmed an "underweight" rating on shares of Plains All American Pipeline in a research report on Friday, August 8th. Zacks Research raised Plains All American Pipeline to a "hold" rating in a research report on Monday, August 11th. Wolfe Research reissued a "peer perform" rating on shares of Plains All American Pipeline in a report on Friday, July 25th. Finally, Morgan Stanley cut their price objective on Plains All American Pipeline from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $20.42.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock traded up $0.05 during midday trading on Thursday, hitting $17.47. 1,228,550 shares of the company were exchanged, compared to its average volume of 3,523,630. The firm has a market capitalization of $12.28 billion, a PE ratio of 23.92 and a beta of 0.80. Plains All American Pipeline, L.P. has a fifty-two week low of $15.57 and a fifty-two week high of $21.00. The business has a fifty day simple moving average of $18.15 and a two-hundred day simple moving average of $18.20. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its earnings results on Friday, August 8th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate 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%.The business's quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 EPS. On average, sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

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

About Plains All American Pipeline

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.