Mizuho Markets Americas LLC Makes New Investment in Plains All American Pipeline Lp $PAA

Key Points

• Mizuho Markets Americas LLC disclosed a new first-quarter stake in Plains All American Pipeline, buying 753,200 shares worth about $16.8 million. The position represented roughly 0.11% of the company.
• Plains All American Pipeline stock was trading near its 52-week high, opening at $24.69 and rising about 1.0% on the day. The company has a market cap of $17.42 billion and a dividend yield of 6.8%.
• The company recently reported quarterly EPS of $0.39, missing expectations by $0.02, though revenue rose 8.7% year over year to $12.47 billion. Analysts currently assign a consensus rating of Hold with an average price target of $23.23.

Mizuho Markets Americas LLC purchased a new stake in shares of Plains All American Pipeline Lp (NASDAQ:PAA - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 753,200 shares of the company's stock, valued at approximately $16,819,000. Mizuho Markets Americas LLC owned about 0.11% of Plains All American Pipeline at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lido Advisors LLC lifted its holdings in shares of Plains All American Pipeline by 85.1% in the 1st quarter. Lido Advisors LLC now owns 30,026 shares of the company's stock worth $671,000 after acquiring an additional 13,804 shares during the last quarter. State of Wyoming acquired a new stake in Plains All American Pipeline in the 1st quarter valued at approximately $241,000. Cetera Investment Advisers increased its holdings in Plains All American Pipeline by 9.4% in the 1st quarter. Cetera Investment Advisers now owns 235,820 shares of the company's stock valued at $5,266,000 after purchasing an additional 20,276 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in Plains All American Pipeline in the first quarter valued at approximately $80,000. Finally, Aviance Capital Partners LLC raised its position in Plains All American Pipeline by 7.5% in the first quarter. Aviance Capital Partners LLC now owns 18,884 shares of the company's stock valued at $422,000 after purchasing an additional 1,325 shares during the period. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Trading Up 1.0%

PAA opened at $24.69 on Friday. Plains All American Pipeline Lp has a 12 month low of $15.69 and a 12 month high of $24.81. The stock has a market capitalization of $17.42 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 9.65 and a beta of 0.50. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88. The business has a fifty day moving average price of $22.83 and a 200 day moving average price of $21.54.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). The company had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. Plains All American Pipeline's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share. Sell-side analysts expect that Plains All American Pipeline Lp will post 1.55 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.67 annualized dividend and a yield of 6.8%. Plains All American Pipeline's dividend payout ratio (DPR) is 127.48%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup raised their price target on Plains All American Pipeline from $20.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Mizuho increased their target price on Plains All American Pipeline from $25.00 to $27.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. The Goldman Sachs Group upgraded Plains All American Pipeline from a "sell" rating to a "neutral" rating and raised their target price for the company from $18.00 to $24.00 in a report on Wednesday, June 3rd. UBS Group reiterated a "buy" rating on shares of Plains All American Pipeline in a research note on Tuesday, June 16th. Finally, US Capital Advisors cut shares of Plains All American Pipeline from a "strong-buy" rating to a "moderate buy" rating in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Plains All American Pipeline presently has a consensus rating of "Hold" and a consensus price target of $23.23.

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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