Plains All American Pipeline, L.P. $PAA Stock Holdings Boosted by Adams Asset Advisors LLC

Key Points

• Adams Asset Advisors LLC increased its holdings in Plains All American Pipeline by 3.2%, now owning 787,922 shares valued at $14.4 million, making it the fund's 8th largest position.
• The company announced a quarterly dividend of $0.38 per share, yielding 8.7%, with a notably high dividend payout ratio of 172.73%.
• Analysts have mixed ratings on Plains All American Pipeline, with a consensus rating of "Hold" and a target price of $20.58, amidst a mixed performance in revenue and earnings.

Adams Asset Advisors LLC grew its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 787,922 shares of the pipeline company's stock after acquiring an additional 24,750 shares during the period. Plains All American Pipeline comprises 2.0% of Adams Asset Advisors LLC's portfolio, making the stock its 8th largest position. Adams Asset Advisors LLC owned 0.11% of Plains All American Pipeline worth $14,435,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in Plains All American Pipeline by 31.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 43,970 shares of the pipeline company's stock valued at $879,000 after purchasing an additional 10,412 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Plains All American Pipeline by 5.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 56,334 shares of the pipeline company's stock valued at $1,127,000 after buying an additional 2,891 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of Plains All American Pipeline by 32.1% during the first quarter. Stratos Wealth Partners LTD. now owns 28,283 shares of the pipeline company's stock valued at $566,000 after acquiring an additional 6,874 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Plains All American Pipeline in the first quarter worth $218,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Plains All American Pipeline by 61.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 76,070 shares of the pipeline company's stock worth $1,521,000 after acquiring an additional 28,916 shares during the period. 41.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PAA. Zacks Research raised shares of Plains All American Pipeline to a "hold" rating in a research report on Monday, August 11th. Barclays reiterated an "underweight" rating on shares of Plains All American Pipeline in a research report on Friday, August 8th. Wolfe Research restated a "peer perform" rating on shares of Plains All American Pipeline in a report on Friday, July 25th. 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 report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $20.58.

Plains All American Pipeline Trading Up 0.6%

NYSE:PAA opened at $17.46 on Monday. The firm has a market capitalization of $12.28 billion, a P/E ratio of 23.92 and a beta of 0.80. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. Plains All American Pipeline, L.P. has a one year low of $15.57 and a one year high of $21.00. The company's 50-day simple moving average is $18.01 and its 200 day simple moving average is $18.03.

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, beating the consensus estimate 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 firm's revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 earnings per share. As a group, 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend was Thursday, July 31st. 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.

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