Penn Mutual Asset Management Invests $390,000 in Plains All American Pipeline, L.P. $PAA

Key Points

• Penn Mutual Asset Management made a new investment of approximately $390,000 in Plains All American Pipeline, acquiring 19,500 shares of the company.
• Plains All American Pipeline recently reported earnings per share of $0.36, exceeding consensus estimates, despite a 16.6% decline in quarterly revenue compared to the previous year.
• The company declared a quarterly dividend of $0.38, resulting in an annualized yield of 8.7%, although its dividend payout ratio is at 172.73%.

Penn Mutual Asset Management acquired a new stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,500 shares of the pipeline company's stock, valued at approximately $390,000.

Several other large investors have also bought and sold shares of PAA. Invesco Ltd. grew its position in shares of Plains All American Pipeline by 6.4% in the 1st quarter. Invesco Ltd. now owns 29,599,382 shares of the pipeline company's stock valued at $591,988,000 after buying an additional 1,771,452 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Plains All American Pipeline by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company's stock worth $422,894,000 after acquiring an additional 1,524,185 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Plains All American Pipeline by 8.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company's stock worth $261,283,000 after acquiring an additional 1,211,286 shares during the period. Tortoise Capital Advisors L.L.C. boosted its holdings in Plains All American Pipeline by 0.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 13,321,966 shares of the pipeline company's stock valued at $227,539,000 after acquiring an additional 75,509 shares during the last quarter. Finally, Eagle Global Advisors LLC increased its position in Plains All American Pipeline by 8.3% during the 4th quarter. Eagle Global Advisors LLC now owns 4,666,185 shares of the pipeline company's stock valued at $79,698,000 after purchasing an additional 358,350 shares during the period. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Stock Up 0.3%

Plains All American Pipeline stock traded up $0.05 during mid-day trading on Wednesday, reaching $17.55. The stock had a trading volume of 3,253,865 shares, compared to its average volume of 3,582,370. The firm has a market capitalization of $12.34 billion, a PE ratio of 24.04 and a beta of 0.73. Plains All American Pipeline, L.P. has a fifty-two week low of $15.57 and a fifty-two week high of $21.00. The stock's 50-day simple moving average is $18.25 and its 200-day simple moving average is $18.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

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

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date was Thursday, July 31st. Plains All American Pipeline's dividend payout ratio (DPR) is currently 172.73%.

Analyst Ratings Changes

PAA has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Royal Bank Of Canada reissued a "sector perform" rating and set a $20.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 16th. JPMorgan Chase & Co. set a $20.00 price target on shares of Plains All American Pipeline in a research report on Friday, August 8th. UBS Group set a $25.00 price target on Plains All American Pipeline and gave the stock a "buy" rating in a report on Tuesday, July 15th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. One research 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $20.67.

About Plains All American Pipeline

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.