5 Dividend Stocks to Buy According to Stuart Zimmer’s Zimmer Partners

3. Plains All American Pipeline, L.P. (NASDAQ:PAA)

Zimmer Partners’ Stake Value: $9,984,000
Percentage of Zimmer Partners’ 13F Portfolio: 0.14%
Number of Hedge Fund Holders: 6
Dividend Yield: 6.69%

Plains All American Pipeline, L.P. (NASDAQ:PAA) is a logistics company that owns and operates midstream energy infrastructure. Zimmer Partners made its first investment in Plains All American Pipeline, L.P. (NASDAQ:PAA) in the first quarter of 2015. On the other hand, Stuart Zimmer decreased his stake in Plains All American Pipeline, L.P. (NASDAQ:PAA) by 22% during Q4, leaving him with an investment of 1.07 million shares valued at $9.98 million on December 31.

In the fourth quarter, the hedge fund sentiment towards Plains All American Pipeline, L.P. (NASDAQ:PAA) declined slightly. Insider Monkey’s data shows that six hedge funds held stakes in the company at the end of the fourth quarter, down from seven funds a quarter earlier.

On January 25, Bernstein analyst Jean Ann Salisbury raised Plains All American Pipeline, L.P. (NASDAQ:PAA) to ‘Outperform’ from ‘Market Perform’, with a price target of $14.50, representing 33% upside.

Due to the pandemic, Plains All American Pipeline, L.P. (NASDAQ:PAA) reduced its dividend by 50% in 2020. Plains All American Pipeline, L.P. (NASDAQ:PAA) issued an $0.18 per share quarterly dividend on January 27, in line with the previous payout.