GraniteShares Advisors LLC Buys Shares of 151,256 Plains All American Pipeline Lp $PAA

Key Points

• GraniteShares Advisors bought a new stake of 151,256 shares of Plains All American Pipeline in Q4 (~$2.72M), about 1.7% of its portfolio and its 17th-largest holding.
• Plains missed earnings with Q EPS of $0.17 vs. $0.50 expected and revenue down 12.2% YoY, and announced a quarterly dividend of $0.4175 (annualized $1.67), implying an ~8.0% yield and a payout ratio around 100.6%.
• Institutional investors own 41.78% of PAA, and analysts have a consensus "Hold" rating with an average target price of $22.08 (mixed breakdown: 2 Strong Buy, 5 Buy, 7 Hold, 2 Sell).

GraniteShares Advisors LLC bought a new stake in Plains All American Pipeline Lp (NASDAQ:PAA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 151,256 shares of the company's stock, valued at approximately $2,717,000. Plains All American Pipeline accounts for approximately 1.7% of GraniteShares Advisors LLC's investment portfolio, making the stock its 17th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. acquired a new stake in shares of Plains All American Pipeline in the third quarter valued at $87,462,000. Berkley W R Corp acquired a new stake in shares of Plains All American Pipeline in the third quarter valued at $32,871,000. Alps Advisors Inc. grew its stake in shares of Plains All American Pipeline by 2.2% in the third quarter. Alps Advisors Inc. now owns 76,066,823 shares of the company's stock valued at $1,297,700,000 after buying an additional 1,663,908 shares in the last quarter. BROOKFIELD Corp ON grew its stake in shares of Plains All American Pipeline by 18.9% in the second quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company's stock valued at $124,112,000 after buying an additional 1,076,291 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Plains All American Pipeline by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the company's stock valued at $122,814,000 after buying an additional 967,059 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company's stock.

Wall Street Analyst Weigh In

PAA has been the subject of a number of research reports. Zacks Research cut Plains All American Pipeline from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 30th. Citigroup raised their price objective on shares of Plains All American Pipeline from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Tuesday, February 10th. Mizuho set a $23.00 price objective on shares of Plains All American Pipeline in a research note on Friday, January 23rd. UBS Group reissued a "buy" rating on shares of Plains All American Pipeline in a research note on Monday, February 9th. Finally, Wall Street Zen lowered shares of Plains All American Pipeline from a "buy" rating to a "hold" rating in a research note on Sunday, January 4th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Plains All American Pipeline presently has a consensus rating of "Hold" and an average target price of $22.08.

Plains All American Pipeline Trading Down 0.3%

NASDAQ:PAA opened at $20.96 on Tuesday. The stock has a market capitalization of $14.79 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 2.49 and a beta of 0.53. The company has a fifty day moving average of $21.37. Plains All American Pipeline Lp has a 12-month low of $15.69 and a 12-month high of $22.79. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.92 and a current ratio of 0.96.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last released its earnings results on Friday, February 6th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 3.21% and a return on equity of 10.76%. The firm's revenue for the quarter was down 12.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. Equities analysts forecast that Plains All American Pipeline Lp will post 1.78 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date is Friday, May 1st. Plains All American Pipeline's dividend payout ratio (DPR) is presently 100.60%.

Plains All American Pipeline Company 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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