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

Bollard Group LLC grew its position in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 7.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,215,856 shares of the company’s stock after buying an additional 86,602 shares during the period. Plains All American Pipeline makes up 0.8% of Bollard Group LLC’s holdings, making the stock its 21st biggest position. Bollard Group LLC’s holdings in Plains All American Pipeline were worth $27,150,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Hilltop Holdings Inc. bought a new position in shares of Plains All American Pipeline in the first quarter worth about $237,000. Mizuho Markets Americas LLC acquired a new position in shares of Plains All American Pipeline during the first quarter valued at about $16,819,000. Lido Advisors LLC grew its stake in Plains All American Pipeline by 85.1% in the first quarter. Lido Advisors LLC now owns 30,026 shares of the company’s stock valued at $671,000 after acquiring an additional 13,804 shares during the period. State of Wyoming acquired a new position in shares of Plains All American Pipeline during the first quarter worth approximately $241,000. Finally, Cetera Investment Advisers grew its position in Plains All American Pipeline by 9.4% in the 1st quarter. Cetera Investment Advisers now owns 235,820 shares of the company’s stock valued at $5,266,000 after purchasing an additional 20,276 shares during the period. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Trading Down 0.4%

Shares of Plains All American Pipeline stock opened at $24.60 on Friday. The firm has a market cap of $17.36 billion, a PE 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 1 year low of $15.69 and a 1 year high of $24.87. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88. The stock has a fifty day moving average price of $22.87 and a 200-day moving average price of $21.57.

Plains All American Pipeline (NASDAQ:PAA) last issued its quarterly earnings results 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). Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The company had revenue of $12.47 billion during the quarter. During the same quarter in the prior year, the business earned $0.39 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that Plains All American Pipeline Lp will post 1.55 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, July 31st. Plains All American Pipeline’s dividend payout ratio is currently 127.48%.

Analysts Set New Price Targets

Several research analysts have weighed in on PAA shares. Scotiabank upped their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Truist Financial boosted their price objective on Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Morgan Stanley increased their price objective on Plains All American Pipeline from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Wells Fargo & Company raised their target price 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. Finally, Mizuho upped their price target on Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.