Acadian Asset Management LLC Buys 694,279 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Acadian Asset Management LLC boosted its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 358.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 888,139 shares of the pipeline company’s stock after acquiring an additional 694,279 shares during the period. Acadian Asset Management LLC owned 0.13% of Plains All American Pipeline worth $15,591,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC bought a new stake in shares of Plains All American Pipeline in the 1st quarter valued at $26,000. Future Financial Wealth Managment LLC bought a new stake in Plains All American Pipeline during the first quarter valued at $28,000. Fortitude Family Office LLC acquired a new stake in Plains All American Pipeline during the 4th quarter worth about $39,000. Scarborough Advisors LLC bought a new position in shares of Plains All American Pipeline in the 4th quarter worth about $46,000. Finally, Mather Group LLC. bought a new position in shares of Plains All American Pipeline in the 1st quarter worth about $76,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PAA shares. Wells Fargo & Company raised their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. UBS Group lifted their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. StockNews.com downgraded shares of Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada raised their price target on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 14th. Finally, Citigroup raised their target price on Plains All American Pipeline from $17.50 to $18.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.42.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock traded down $0.09 during mid-day trading on Friday, reaching $18.83. 1,810,522 shares of the company’s stock were exchanged, compared to its average volume of 1,926,380. The business’s fifty day simple moving average is $17.57 and its 200 day simple moving average is $17.02. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a one year low of $14.25 and a one year high of $19.12. The firm has a market capitalization of $13.20 billion, a PE ratio of 16.23 and a beta of 1.61.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $12 billion during the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. On average, sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.32 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.74%. The ex-dividend date of this dividend is Wednesday, July 31st. Plains All American Pipeline’s dividend payout ratio is currently 109.48%.

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.