Plains All American Pipeline, L.P. $PAA Position Lifted by Walnut Private Equity Partners LLC

Key Points

• Walnut Private Equity Partners LLC increased its stake in Plains All American Pipeline by 4.8% during Q2, acquiring an additional 25,000 shares, making it the firm's 6th biggest position.
• Plains All American Pipeline recently reported earnings of $0.36 EPS, exceeding consensus estimates, but its revenue declined by 16.6% year-over-year.
• The company declared a quarterly dividend of $0.38 per share, representing an annual yield of 8.7%, but it has a payout ratio of 172.73%.

Walnut Private Equity Partners LLC grew its stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 550,000 shares of the pipeline company's stock after acquiring an additional 25,000 shares during the quarter. Plains All American Pipeline comprises about 5.9% of Walnut Private Equity Partners LLC's portfolio, making the stock its 6th biggest position. Walnut Private Equity Partners LLC owned approximately 0.08% of Plains All American Pipeline worth $10,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BROOKFIELD Corp ON increased its holdings in shares of Plains All American Pipeline by 50.2% in the 1st quarter. BROOKFIELD Corp ON now owns 5,698,359 shares of the pipeline company's stock valued at $113,967,000 after acquiring an additional 1,904,261 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Plains All American Pipeline by 1.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,621,174 shares of the pipeline company's stock valued at $32,419,000 after acquiring an additional 25,978 shares during the period. Belpointe Asset Management LLC purchased a new position in shares of Plains All American Pipeline in the 1st quarter valued at $216,000. SCS Capital Management LLC purchased a new position in shares of Plains All American Pipeline in the 1st quarter valued at $699,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Plains All American Pipeline by 7.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company's stock valued at $422,894,000 after acquiring an additional 1,524,185 shares during the period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PAA shares. Wall Street Zen upgraded Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Mizuho set a $22.00 target price on Plains All American Pipeline and gave the stock an "outperform" rating in a research note on Wednesday, June 18th. Scotiabank restated an "outperform" rating on shares of Plains All American Pipeline in a research note on Monday, September 8th. Barclays restated an "underweight" rating on shares of Plains All American Pipeline in a research note on Friday, August 8th. Finally, Wolfe Research restated a "peer perform" rating on shares of Plains All American Pipeline in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $20.58.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $17.46 on Friday. The stock has a 50-day moving average of $18.01 and a two-hundred day moving average of $18.04. Plains All American Pipeline, L.P. has a one year low of $15.57 and a one year high of $21.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a market cap of $12.28 billion, a P/E ratio of 23.92 and a beta of 0.80.

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, 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 in the previous year, the company posted $0.31 earnings per share. The company's revenue was down 16.6% on a year-over-year basis. As a group, research analysts predict that Plains All American Pipeline, L.P. will post 1.52 EPS 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. Shareholders of record on Thursday, July 31st were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a yield of 8.7%. Plains All American Pipeline's payout ratio is currently 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.

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