Walnut Private Equity Partners LLC Acquires 25,000 Shares of Plains All American Pipeline, L.P. $PAA

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 raised its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 550,000 shares of the pipeline company's stock after purchasing an additional 25,000 shares during the quarter. Plains All American Pipeline comprises 5.9% of Walnut Private Equity Partners LLC's portfolio, making the stock its 6th largest holding. Walnut Private Equity Partners LLC owned about 0.08% of Plains All American Pipeline worth $10,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in 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 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 during the 1st quarter valued at $61,000. National Bank of Canada FI lifted its position in shares of Plains All American Pipeline by 99.4% during the 1st quarter. National Bank of Canada FI now owns 3,210 shares of the pipeline company's stock valued at $64,000 after acquiring 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 during the 1st quarter valued at $68,000. Finally, Tortoise Investment Management LLC acquired a new stake in shares of Plains All American Pipeline during the 1st quarter valued at $70,000. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Stock Down 1.8%

Shares of NYSE:PAA traded down $0.31 during midday trading on Friday, hitting $17.11. 957,064 shares of the stock were exchanged, compared to its average volume of 3,446,247. Plains All American Pipeline, L.P. has a 52-week low of $15.57 and a 52-week high of $21.00. The business's fifty day simple moving average is $17.92 and its two-hundred day simple moving average is $17.98. 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 company has a market capitalization of $12.03 billion, a PE ratio of 23.41 and a beta of 0.80.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted 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%.During the same quarter last year, the company earned $0.31 EPS. The company's quarterly revenue was down 16.6% compared to the same quarter last year. As a group, research analysts predict that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business 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. This represents a $1.52 annualized dividend and a yield of 8.9%. The ex-dividend date was Thursday, July 31st. Plains All American Pipeline's dividend payout ratio (DPR) is 172.73%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PAA. Citigroup set a $18.00 price objective on Plains All American Pipeline and gave the company a "neutral" rating in a research report on Friday, August 8th. Wolfe Research reiterated a "peer perform" rating on shares of Plains All American Pipeline in a research report on Friday, July 25th. Morgan Stanley cut their price objective on Plains All American Pipeline from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 26th. Scotiabank reaffirmed an "outperform" rating on shares of Plains All American Pipeline in a research report on Monday, September 8th. Finally, UBS Group set a $25.00 target price on Plains All American Pipeline and gave the stock a "buy" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.58.

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.