Nuveen LLC Takes $8.29 Million Position in Plains All American Pipeline, L.P. $PAA

Key Points

• Nuveen LLC acquired a new stake in Plains All American Pipeline, purchasing 414,482 shares valued at approximately $8.29 million, representing 0.06% of the company's total shares.
• Plains All American Pipeline recently reported earnings per share (EPS) of $0.36 for the latest quarter, exceeding expectations of $0.33, but faced a 16.6% decline in quarterly revenue year-over-year.
• The company declared a quarterly dividend of $0.38 per share, resulting in an annualized dividend yield of 8.6%, though the dividend payout ratio is notably high at 172.73%.

Nuveen LLC purchased a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 414,482 shares of the pipeline company's stock, valued at approximately $8,290,000. Nuveen LLC owned about 0.06% of Plains All American Pipeline as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PAA. Farther Finance Advisors LLC grew its position 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 purchasing an additional 657 shares in the last quarter. North Capital Inc. acquired a new stake in shares of Plains All American Pipeline in the first quarter valued at approximately $61,000. National Bank of Canada FI increased its holdings in shares of Plains All American Pipeline by 99.4% in 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 acquired a new stake in shares of Plains All American Pipeline in the first quarter valued at approximately $68,000. Finally, Cheviot Value Management LLC acquired a new stake in shares of Plains All American Pipeline in the first quarter valued at approximately $71,000. Hedge funds and other institutional investors own 41.78% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PAA shares. Morgan Stanley cut their price target on Plains All American Pipeline from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Tuesday. Barclays reissued an "underweight" rating on shares of Plains All American Pipeline in a research note on Friday, August 8th. Wells Fargo & Company cut shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research note on Friday, May 9th. Scotiabank dropped their price target on shares of Plains All American Pipeline from $19.00 to $18.00 and set a "sector outperform" rating for the company in a research note on Thursday, August 14th. Finally, Wall Street Zen raised shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $20.42.

Plains All American Pipeline Stock Up 0.6%

Plains All American Pipeline stock traded up $0.11 during mid-day trading on Friday, reaching $18.00. 1,783,121 shares of the company's stock were exchanged, compared to its average volume of 3,552,938. The company has a market cap of $12.66 billion, a P/E ratio of 24.66 and a beta of 0.73. Plains All American Pipeline, L.P. has a twelve month low of $15.57 and a twelve month high of $21.00. 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 fifty day moving average of $18.18 and a 200-day moving average of $18.24.

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

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were issued 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 8.4%. Plains All American Pipeline's dividend payout ratio is 172.73%.

Plains All American Pipeline Company 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.