SCS Capital Management LLC Makes New $699,000 Investment in Plains All American Pipeline, L.P. $PAA

Key Points

• SCS Capital Management LLC has invested approximately $699,000 in Plains All American Pipeline, L.P. by acquiring 34,947 shares during the first quarter.
• Several institutional investors have increased their stakes in Plains All American Pipeline, with hedge funds owning 41.78% of the company's stock.
• Analysts have set a consensus rating of "Hold" for PAA, with an average price target of $20.58, as recent updates from research firms reflect mixed ratings.

SCS Capital Management LLC acquired a new position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 34,947 shares of the pipeline company's stock, valued at approximately $699,000.

Several other hedge funds and other institutional investors have also modified their holdings of PAA. Farther Finance Advisors LLC boosted its position in shares of Plains All American Pipeline by 107.0% during the first 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 period. North Capital Inc. acquired a new stake in shares of Plains All American Pipeline during the first quarter worth about $61,000. National Bank of Canada FI increased its position in shares of Plains All American Pipeline by 99.4% during the first quarter. National Bank of Canada FI now owns 3,210 shares of the pipeline company's stock worth $64,000 after purchasing an additional 1,600 shares in the last quarter. Creative Financial Designs Inc. ADV purchased a new position in shares of Plains All American Pipeline during the first quarter worth about $68,000. Finally, Tortoise Investment Management LLC purchased a new position in shares of Plains All American Pipeline during the first quarter worth about $70,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Zacks Research raised Plains All American Pipeline to a "hold" rating in a report on Monday, August 11th. Mizuho set a $22.00 price target on shares of Plains All American Pipeline and gave the company an "outperform" rating in a research report on Wednesday, June 18th. UBS Group set a $25.00 price objective on Plains All American Pipeline and gave the stock a "buy" rating in a research report on Tuesday, July 15th. Barclays restated an "underweight" rating on shares of Plains All American Pipeline in a research report on Friday, August 8th. Finally, Morgan Stanley cut their price target on Plains All American Pipeline from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Tuesday, August 26th. One 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 given a Sell rating to the company. According to MarketBeat.com, Plains All American Pipeline presently has an average rating of "Hold" and a consensus price target of $20.58.

Plains All American Pipeline Stock Performance

PAA traded up $0.11 on Friday, hitting $17.46. 2,027,699 shares of the company's stock were exchanged, compared to its average volume of 3,491,412. The firm has a market cap of $12.28 billion, a PE ratio of 23.92 and a beta of 0.80. Plains All American Pipeline, L.P. has a twelve month low of $15.57 and a twelve month high of $21.00. The stock has a fifty day moving average of $18.01 and a two-hundred day moving average of $18.05. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The pipeline company reported $0.36 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%. During the same period last year, the company earned $0.31 EPS. The firm's revenue for the quarter was down 16.6% compared to the same quarter last year. On average, 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. Investors 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 yield of 8.7%. The ex-dividend date was Thursday, July 31st. Plains All American Pipeline's dividend payout ratio (DPR) is presently 172.73%.

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.