Enables phosphatidate phosphatase activity. Predicted to be involved in several processes, including cellular response to insulin stimulus; fatty acid catabolic process; and triglyceride biosynthetic process. Predicted to act upstream of or within fatty acid metabolic process. Predicted to be active in nucleus. Is expressed in several structures, including adrenal gland; genitourinary system; gut; skin; and trachea. Orthologous to human LPIN3 (lipin 3). [provided by Alliance of Genome Resources, Apr 2022]