Berkley W R Corp Buys New Stake in Plains All American Pipeline Lp $PAA

Berkley W R Corp bought a new position in Plains All American Pipeline Lp (NASDAQ:PAA) during the 3rd quarter, Holdings Channel reports. The fund bought 1,926,802 shares of the company’s stock, valued at approximately $32,871,000. Plains All American Pipeline comprises 1.9% of Berkley W R Corp’s holdings, making the stock its 10th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Alps Advisors Inc. boosted its holdings in Plains All American Pipeline by 2.2% during the third quarter. Alps Advisors Inc. now owns 76,066,823 shares of the company’s stock valued at $1,297,700,000 after acquiring an additional 1,663,908 shares during the period. Invesco Ltd. increased its stake in shares of Plains All American Pipeline by 2.1% in the third quarter. Invesco Ltd. now owns 33,280,692 shares of the company’s stock worth $567,769,000 after purchasing an additional 677,959 shares during the period. JPMorgan Chase & Co. lifted 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 worth $122,814,000 after purchasing an additional 967,059 shares during the last quarter. BROOKFIELD Corp ON lifted 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 worth $124,112,000 after purchasing an additional 1,076,291 shares during the last quarter. Finally, Eagle Global Advisors LLC boosted its stake in Plains All American Pipeline by 6.2% during the 3rd quarter. Eagle Global Advisors LLC now owns 4,117,370 shares of the company’s stock valued at $70,242,000 after purchasing an additional 240,714 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on PAA shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Plains All American Pipeline in a report on Monday, December 29th. Wall Street Zen cut Plains All American Pipeline from a “buy” rating to a “hold” rating in a research report on Sunday, January 4th. Morgan Stanley raised their price objective on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Barclays boosted their target price on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, February 9th. Finally, Bank of America cut shares of Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 target price for the company. in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.58.

Plains All American Pipeline Stock Up 0.5%

Shares of PAA opened at $21.32 on Friday. The firm’s 50-day moving average price is $19.96. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $15.04 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 3.39 and a beta of 0.59. Plains All American Pipeline Lp has a 12-month low of $15.57 and a 12-month high of $22.29.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings data on Friday, February 6th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 10.76% and a net margin of 3.21%.During the same period in the prior year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was down 12.2% on a year-over-year basis.

Plains All American Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were given a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 7.8%. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, January 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is 100.60%.

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.