Southeast Asset Advisors LLC Invests $300,000 in Plains All American Pipeline, L.P. $PAA

Key Points

• Southeast Asset Advisors LLC has acquired a new position in Plains All American Pipeline, purchasing 15,000 shares valued at approximately $300,000.
• Plains All American Pipeline recently declared a quarterly dividend of $0.38, resulting in an annualized dividend yield of 8.6% and exceeding a payout ratio of 172.73%.
• Analysts project a consensus target price of $20.67 for Plains All American Pipeline, with ratings ranging from "Strong Buy" to "Hold" from various brokerages.

Southeast Asset Advisors LLC purchased a new stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 15,000 shares of the pipeline company's stock, valued at approximately $300,000.

Several other large investors have also recently added to or reduced their stakes in PAA. Farther Finance Advisors LLC raised its holdings in Plains All American Pipeline by 107.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock valued at $26,000 after acquiring an additional 657 shares in the last quarter. North Capital Inc. acquired a new position in Plains All American Pipeline in the 1st quarter valued at approximately $61,000. National Bank of Canada FI raised its holdings in Plains All American Pipeline by 99.4% in 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 in the last quarter. Creative Financial Designs Inc. ADV acquired a new position in Plains All American Pipeline in the 1st quarter valued at approximately $68,000. Finally, Cheviot Value Management LLC acquired a new stake in Plains All American Pipeline during the first quarter valued at approximately $71,000. Institutional investors and hedge funds own 41.78% of the company's stock.

Analysts Set New Price Targets

PAA has been the topic of a number of recent research reports. Scotiabank decreased their price objective on Plains All American Pipeline from $19.00 to $18.00 and set a "sector outperform" rating on the stock in a report on Thursday, August 14th. Citigroup set a $18.00 price objective on Plains All American Pipeline and gave the company a "neutral" rating in a report on Friday, August 8th. Zacks Research raised Plains All American Pipeline to a "hold" rating in a report on Monday, August 11th. Wolfe Research reaffirmed a "peer perform" rating on shares of Plains All American Pipeline in a report on Friday, July 25th. Finally, UBS Group set a $25.00 price objective on Plains All American Pipeline and gave the company a "buy" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $20.42.

Plains All American Pipeline Price Performance

Shares of NYSE PAA traded up $0.24 during mid-day trading on Wednesday, hitting $17.61. 1,687,515 shares of the stock were exchanged, compared to its average volume of 3,572,311. The company has a market cap of $12.39 billion, a P/E ratio of 24.12 and a beta of 0.73. The stock's fifty day simple moving average is $18.20 and its two-hundred day simple moving average is $18.26. 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, L.P. has a twelve month low of $15.57 and a twelve month high of $21.00.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 earnings per share for the quarter, topping 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 quarter last year, the business earned $0.31 earnings per share. The company's revenue for the quarter was down 16.6% on a year-over-year basis. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date was Thursday, July 31st. Plains All American Pipeline's dividend payout ratio is presently 172.73%.

Plains All American Pipeline 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.