Bollard Group LLC Sells 82,377 Shares of Plains All American Pipeline Lp $PAA

Bollard Group LLC lessened its holdings in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,129,254 shares of the company’s stock after selling 82,377 shares during the quarter. Plains All American Pipeline comprises 0.5% of Bollard Group LLC’s investment portfolio, making the stock its 25th largest position. Bollard Group LLC’s holdings in Plains All American Pipeline were worth $20,281,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Invesco Ltd. boosted its position in shares of Plains All American Pipeline by 2.1% during the 3rd quarter. Invesco Ltd. now owns 33,280,692 shares of the company’s stock valued at $567,769,000 after acquiring an additional 677,959 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Plains All American Pipeline by 17.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock valued at $360,097,000 after acquiring an additional 3,033,216 shares during the last quarter. Morgan Stanley boosted its position in shares of Plains All American Pipeline by 40.2% during the 4th quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock valued at $177,467,000 after acquiring an additional 2,833,161 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Plains All American Pipeline by 15.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the company’s stock valued at $122,814,000 after acquiring an additional 967,059 shares during the last quarter. Finally, BROOKFIELD Corp ON boosted its position in shares of Plains All American Pipeline by 18.9% during the 2nd quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company’s stock valued at $124,112,000 after acquiring an additional 1,076,291 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Trading Down 0.2%

Shares of NASDAQ PAA opened at $22.44 on Friday. The stock has a market cap of $15.83 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 10.29 and a beta of 0.50. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. Plains All American Pipeline Lp has a 1-year low of $15.69 and a 1-year high of $24.26. The firm’s 50-day moving average price is $22.36.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The firm had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 earnings per share. On average, analysts forecast that Plains All American Pipeline Lp will post 1.56 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend was Friday, May 1st. Plains All American Pipeline’s payout ratio is 127.48%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Plains All American Pipeline in a report on Friday, April 17th. Wells Fargo & Company raised their price objective on Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Truist Financial initiated coverage on Plains All American Pipeline in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, US Capital Advisors cut Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.93.

Plains All American Pipeline Company Profile

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.