SCP Investment LP Acquires Shares of 10,000 Plains All American Pipeline, L.P. (NYSE:PAA)

SCP Investment LP bought a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the pipeline company’s stock, valued at approximately $91,000. Plains All American Pipeline accounts for about 0.0% of SCP Investment LP’s holdings, making the stock its 27th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Alps Advisors Inc. increased its stake in shares of Plains All American Pipeline by 4.8% during the first quarter. Alps Advisors Inc. now owns 54,382,411 shares of the pipeline company’s stock valued at $494,880,000 after buying an additional 2,490,673 shares during the period. Brookfield Asset Management Inc. increased its stake in shares of Plains All American Pipeline by 7.1% during the fourth quarter. Brookfield Asset Management Inc. now owns 15,006,891 shares of the pipeline company’s stock valued at $123,657,000 after buying an additional 993,717 shares during the period. UBS Group AG increased its stake in shares of Plains All American Pipeline by 2.2% during the first quarter. UBS Group AG now owns 8,774,385 shares of the pipeline company’s stock valued at $79,847,000 after buying an additional 184,963 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in shares of Plains All American Pipeline by 8.1% during the first quarter. Kayne Anderson Capital Advisors LP now owns 7,326,672 shares of the pipeline company’s stock valued at $66,670,000 after buying an additional 550,000 shares during the period. Finally, Clearbridge Investments LLC increased its stake in shares of Plains All American Pipeline by 52.8% during the fourth quarter. Clearbridge Investments LLC now owns 7,051,130 shares of the pipeline company’s stock valued at $58,101,000 after buying an additional 2,437,150 shares during the period. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on PAA shares. Mizuho boosted their target price on Plains All American Pipeline from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays reduced their price target on Plains All American Pipeline from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday, March 19th. Zacks Investment Research cut Plains All American Pipeline from a “hold” rating to a “sell” rating and set a $8.25 price target on the stock. in a research note on Tuesday, May 11th. Wolfe Research reaffirmed a “peer perform” rating and issued a $10.00 price target on shares of Plains All American Pipeline in a research note on Wednesday, March 17th. Finally, TD Securities reduced their price target on Plains All American Pipeline from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, May 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $23.41.

Shares of NYSE PAA traded up $0.03 during trading on Friday, reaching $12.14. The company had a trading volume of 76,806 shares, compared to its average volume of 4,828,016. Plains All American Pipeline, L.P. has a 12-month low of $5.26 and a 12-month high of $12.25. The stock has a market cap of $8.77 billion, a PE ratio of 18.35 and a beta of 2.31. The business’s 50-day moving average is $9.91. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.84 and a current ratio of 0.95.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Monday, May 3rd. The pipeline company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Plains All American Pipeline had a return on equity of 14.62% and a net margin of 2.69%. The firm had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $6.86 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Research analysts forecast that Plains All American Pipeline, L.P. will post 1.22 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 14th. Stockholders of record on Friday, April 30th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date was Thursday, April 29th. Plains All American Pipeline’s payout ratio is currently 46.45%.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through three segments: Transportation, Facilities, and Supply and Logistics.

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Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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