Nuveen LLC Invests $8.29 Million 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 acquired a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 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.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of Plains All American Pipeline by 107.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock worth $26,000 after buying an additional 657 shares during the last quarter. North Capital Inc. acquired a new stake in shares of Plains All American Pipeline during the 1st quarter worth $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 purchasing an additional 1,600 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in Plains All American Pipeline in the 1st quarter valued at $68,000. Finally, Cheviot Value Management LLC acquired a new stake in Plains All American Pipeline in the 1st quarter valued at $71,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Up 1.4%

Shares of Plains All American Pipeline stock traded up $0.24 during trading hours on Wednesday, hitting $17.61. 1,687,515 shares of the company's stock traded hands, compared to its average volume of 3,572,311. The stock has a 50 day simple moving average of $18.21 and a 200-day simple moving average of $18.27. 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 $12.39 billion, a PE ratio of 24.12 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.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share for the quarter, beating the consensus estimate 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%.The firm's revenue was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.52 annualized dividend and a dividend yield of 8.6%. Plains All American Pipeline's dividend payout ratio (DPR) is currently 172.73%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wolfe Research reiterated a "peer perform" rating on shares of Plains All American Pipeline in a report on Friday, July 25th. Barclays reiterated an "underweight" rating on shares of Plains All American Pipeline in a report on Friday, August 8th. Raymond James Financial reiterated a "strong-buy" rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Wall Street Zen upgraded Plains All American Pipeline from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, UBS Group set a $25.00 price target on Plains All American Pipeline and gave the company a "buy" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.