FORA Capital LLC Takes Position in Plains All American Pipeline, L.P. $PAA

Key Points

• FORA Capital LLC has acquired 17,135 shares of Plains All American Pipeline, valued at approximately $343,000, during the first quarter of the year.
• Plains All American Pipeline's recent quarterly earnings report showed a net margin of 1.54% and earnings of $0.36 per share, exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.38, resulting in an annualized yield of 8.5%, despite a high payout ratio of 172.73%.

FORA Capital LLC purchased a new position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,135 shares of the pipeline company's stock, valued at approximately $343,000.

Several other institutional investors have also modified their holdings of PAA. Farther Finance Advisors LLC lifted its holdings in shares of Plains All American Pipeline by 107.0% in the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock valued at $26,000 after buying an additional 657 shares during the period. North Capital Inc. purchased a new stake in shares of Plains All American Pipeline during the first quarter valued at $61,000. National Bank of Canada FI lifted its holdings in shares of Plains All American Pipeline by 99.4% during the first quarter. National Bank of Canada FI now owns 3,210 shares of the pipeline company's stock valued at $64,000 after purchasing an additional 1,600 shares during the last quarter. Creative Financial Designs Inc. ADV purchased a new stake in shares of Plains All American Pipeline during the first quarter valued at $68,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of Plains All American Pipeline during the first quarter valued at $71,000. Institutional investors and hedge funds own 41.78% of the company's stock.

Plains All American Pipeline Stock Up 0.6%

Shares of PAA traded up $0.11 during midday trading on Friday, reaching $18.00. 1,783,121 shares of the stock were exchanged, compared to its average volume of 3,552,938. Plains All American Pipeline, L.P. has a 12-month low of $15.57 and a 12-month high of $21.00. The firm has a 50 day simple moving average of $18.18 and a 200-day simple moving average of $18.23. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The company has a market cap of $12.66 billion, a price-to-earnings ratio of 24.66 and a beta of 0.73.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly 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 quarter in the prior year, the firm posted $0.31 earnings per share. Plains All American Pipeline's revenue for the quarter was down 16.6% compared to the same quarter last year. Research analysts forecast that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a dividend of $0.38 per share. 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 8.4%. Plains All American Pipeline's dividend payout ratio is currently 172.73%.

Wall Street Analysts Forecast Growth

PAA has been the subject of several analyst reports. Mizuho set a $22.00 target price on Plains All American Pipeline and gave the company an "outperform" rating in a report on Wednesday, June 18th. Scotiabank reduced their target price on Plains All American Pipeline from $19.00 to $18.00 and set a "sector outperform" rating for the company in a report on Thursday, August 14th. Wolfe Research reaffirmed a "peer perform" rating on shares of Plains All American Pipeline in a report on Friday, July 25th. Citigroup set a $18.00 target price on Plains All American Pipeline and gave the company a "neutral" rating in a report on Friday, August 8th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $20.00 target price on shares of Plains All American Pipeline in a report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Plains All American Pipeline currently has a consensus rating of "Hold" and a consensus price target of $20.42.

Plains All American Pipeline 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.