MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 1,166,369 Shares of Plains All American Pipeline, L.P. $PAA

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Plains All American Pipeline by 7.6% during the first quarter, owning 16,463,963 shares valued at approximately $329,279,000.
• A variety of large investors, including Goldman Sachs and BNP Paribas Financial Markets, also raised their stakes in Plains All American Pipeline during the same period, reflecting significant institutional interest.
• Plains All American Pipeline recently declared a quarterly dividend of $0.38 per share, translating to an annual yield of 8.7%, despite a relatively high payout ratio of 172.73%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 7.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,463,963 shares of the pipeline company's stock after purchasing an additional 1,166,369 shares during the period. Plains All American Pipeline accounts for 0.7% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s portfolio, making the stock its 19th largest holding. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 2.34% of Plains All American Pipeline worth $329,279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in Plains All American Pipeline by 107.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock valued at $26,000 after acquiring an additional 657 shares during the last quarter. North Capital Inc. bought a new stake in Plains All American Pipeline in the 1st quarter valued at $61,000. National Bank of Canada FI increased its holdings in Plains All American Pipeline by 99.4% in the 1st quarter. National Bank of Canada FI now owns 3,210 shares of the pipeline company's stock valued at $64,000 after acquiring an additional 1,600 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new stake in Plains All American Pipeline in the 1st quarter valued at $68,000. Finally, Tortoise Investment Management LLC bought a new stake in Plains All American Pipeline in the 1st quarter valued at $70,000. 41.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PAA has been the topic of a number of research reports. Wall Street Zen upgraded shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. UBS Group set a $25.00 price target on shares of Plains All American Pipeline and gave the company a "buy" rating in a report on Tuesday, July 15th. Mizuho set a $22.00 target price on shares of Plains All American Pipeline and gave the stock an "outperform" rating in a report on Wednesday, June 18th. Barclays restated an "underweight" rating on shares of Plains All American Pipeline in a report on Friday, August 8th. Finally, Scotiabank reduced their target price on shares of Plains All American Pipeline from $19.00 to $18.00 and set a "sector outperform" rating on the stock in a report on Thursday, August 14th. One investment 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.42.

Plains All American Pipeline Trading Down 1.3%

NYSE:PAA traded down $0.22 during mid-day trading on Friday, hitting $17.22. 5,219,123 shares of the stock traded hands, compared to its average volume of 3,537,396. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of 23.59 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. The firm's 50 day moving average is $18.11 and its two-hundred day moving average is $18.13. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The pipeline company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. Plains All American Pipeline's revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 EPS. On average, equities research analysts predict 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 company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.8%. The ex-dividend date was Thursday, July 31st. Plains All American Pipeline's dividend payout ratio is presently 172.73%.

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.