Bollard Group LLC Buys 86,602 Shares of Plains All American Pipeline Lp $PAA

Key Points

• Bollard Group LLC increased its stake in Plains All American Pipeline by 7.7% in Q1, buying 86,602 shares and bringing its total holdings to 1,215,856 shares valued at about $27.15 million.
• Plains All American Pipeline reported Q1 earnings of $0.39 per share, missing analyst estimates by $0.02, though revenue rose 8.7% year over year to $12.47 billion.
• The company declared a quarterly dividend of $0.4175 per share, implying an annualized yield of 6.8%; however, its dividend payout ratio is high at 127.48%.

Bollard Group LLC raised its stake in shares of Plains All American Pipeline Lp (NASDAQ:PAA - Free Report) by 7.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,215,856 shares of the company's stock after acquiring an additional 86,602 shares during the quarter. Plains All American Pipeline makes up 0.8% of Bollard Group LLC's portfolio, making the stock its 21st largest holding. Bollard Group LLC owned about 0.17% of Plains All American Pipeline worth $27,150,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in Plains All American Pipeline by 17.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company's stock valued at $360,097,000 after buying an additional 3,033,216 shares in the last quarter. Morgan Stanley raised its position in Plains All American Pipeline by 40.2% in the 4th quarter. Morgan Stanley now owns 9,881,248 shares of the company's stock valued at $177,467,000 after purchasing an additional 2,833,161 shares during the last quarter. Cohen & Steers Inc. boosted its stake in Plains All American Pipeline by 97.9% in the fourth quarter. Cohen & Steers Inc. now owns 2,502,309 shares of the company's stock worth $44,941,000 after purchasing an additional 1,237,877 shares in the last quarter. BROOKFIELD Corp ON grew its holdings in shares of Plains All American Pipeline by 18.9% during the second quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company's stock worth $124,112,000 after purchasing an additional 1,076,291 shares during the last quarter. Finally, Berkley W R Corp increased its stake in shares of Plains All American Pipeline by 39.3% in the fourth quarter. Berkley W R Corp now owns 2,684,307 shares of the company's stock valued at $48,210,000 after buying an additional 757,505 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company's stock.

Plains All American Pipeline Price Performance

PAA opened at $24.60 on Friday. The stock has a market cap of $17.36 billion, a P/E ratio of 18.78, a P/E/G ratio of 9.75 and a beta of 0.50. Plains All American Pipeline Lp has a 12 month low of $15.69 and a 12 month high of $24.87. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a fifty day simple moving average of $22.87 and a 200 day simple moving average of $21.57.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last posted its earnings results on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The business had revenue of $12.47 billion during the quarter. During the same period last year, the firm posted $0.39 earnings per share. The company's revenue for the quarter was up 8.7% on a year-over-year basis. On average, research analysts expect that Plains All American Pipeline Lp will post 1.55 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.4175 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.67 annualized dividend and a dividend yield of 6.8%. Plains All American Pipeline's dividend payout ratio (DPR) is currently 127.48%.

Wall Street Analyst Weigh In

PAA has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Plains All American Pipeline in a report on Wednesday, July 15th. Scotiabank boosted their target price on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 12th. Wells Fargo & Company upped their target price on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 12th. US Capital Advisors cut shares of Plains All American Pipeline from a "strong-buy" rating to a "moderate buy" rating in a research note on Friday, May 29th. Finally, Morgan Stanley raised their price target on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company an "equal weight" rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $23.23.

About Plains All American Pipeline

Plains All American Pipeline NASDAQ: PAA is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.

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