Bollard Group LLC Grows Stock Position in Plains All American Pipeline, L.P. $PAA

Bollard Group LLC raised its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 13.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,131,158 shares of the pipeline company’s stock after buying an additional 132,008 shares during the quarter. Plains All American Pipeline makes up approximately 0.5% of Bollard Group LLC’s holdings, making the stock its 26th largest holding. Bollard Group LLC’s holdings in Plains All American Pipeline were worth $20,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of PAA. Apollon Wealth Management LLC boosted its position in shares of Plains All American Pipeline by 0.8% in the second quarter. Apollon Wealth Management LLC now owns 80,515 shares of the pipeline company’s stock worth $1,475,000 after acquiring an additional 628 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Plains All American Pipeline by 5.2% in the 2nd quarter. HB Wealth Management LLC now owns 15,247 shares of the pipeline company’s stock valued at $279,000 after purchasing an additional 748 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Plains All American Pipeline by 76.1% during the 2nd quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock valued at $32,000 after buying an additional 761 shares during the period. Clarus Group Inc. increased its holdings in shares of Plains All American Pipeline by 0.9% during the 2nd quarter. Clarus Group Inc. now owns 93,131 shares of the pipeline company’s stock worth $1,706,000 after buying an additional 801 shares during the last quarter. Finally, AE Wealth Management LLC raised its position in shares of Plains All American Pipeline by 6.9% in the 2nd quarter. AE Wealth Management LLC now owns 13,219 shares of the pipeline company’s stock worth $242,000 after buying an additional 858 shares during the period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock opened at $17.73 on Friday. The firm has a market capitalization of $12.51 billion, a PE ratio of 24.29 and a beta of 0.59. Plains All American Pipeline, L.P. has a one year low of $15.57 and a one year high of $21.00. The stock’s 50 day moving average price is $16.77 and its 200 day moving average price is $17.44. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. Plains All American Pipeline’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. As a group, sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were issued a $0.38 dividend. The ex-dividend date was Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 8.6%. Plains All American Pipeline’s payout ratio is currently 125.62%.

Wall Street Analysts Forecast Growth

PAA has been the subject of a number of research reports. Raymond James Financial reissued a “strong-buy” rating and set a $22.00 price target (down previously from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th. Barclays reduced their price objective on Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 7th. Morgan Stanley increased their target price on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Zacks Research upgraded shares of Plains All American Pipeline to a “hold” rating in a report on Monday, August 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.55.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.