Berkley W R Corp Makes New Investment in Plains All American Pipeline Lp $PAA

Berkley W R Corp bought a new stake in shares of Plains All American Pipeline Lp (NASDAQ:PAA) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,926,802 shares of the company’s stock, valued at approximately $32,871,000. Plains All American Pipeline makes up 1.9% of Berkley W R Corp’s portfolio, making the stock its 10th biggest position. Berkley W R Corp owned approximately 0.27% of Plains All American Pipeline at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Exencial Wealth Advisors LLC grew its position in Plains All American Pipeline by 1.5% during the third quarter. Exencial Wealth Advisors LLC now owns 40,909 shares of the company’s stock valued at $698,000 after purchasing an additional 601 shares in the last quarter. AE Wealth Management LLC lifted its position in Plains All American Pipeline by 6.9% in the 2nd quarter. AE Wealth Management LLC now owns 13,219 shares of the company’s stock worth $242,000 after buying an additional 858 shares in the last quarter. Sippican Capital Advisors boosted its stake in shares of Plains All American Pipeline by 2.8% during the 3rd quarter. Sippican Capital Advisors now owns 32,025 shares of the company’s stock valued at $546,000 after buying an additional 865 shares during the period. Equitable Holdings Inc. grew its holdings in shares of Plains All American Pipeline by 5.0% during the 3rd quarter. Equitable Holdings Inc. now owns 18,428 shares of the company’s stock valued at $314,000 after acquiring an additional 875 shares in the last quarter. Finally, Americana Partners LLC grew its holdings in shares of Plains All American Pipeline by 0.4% during the 3rd quarter. Americana Partners LLC now owns 274,294 shares of the company’s stock valued at $4,679,000 after acquiring an additional 987 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Shares of NASDAQ:PAA opened at $21.32 on Friday. The firm has a market capitalization of $15.04 billion, a PE ratio of 12.84, a P/E/G ratio of 3.39 and a beta of 0.59. The business has a 50-day moving average of $19.96. Plains All American Pipeline Lp has a fifty-two week low of $15.57 and a fifty-two week high of $22.29. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.97.

Plains All American Pipeline (NASDAQ:PAA) last issued 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 net margin of 3.21% and a return on equity of 10.76%. During the same period last year, the business posted $0.42 EPS. The company’s quarterly revenue was down 12.2% on a year-over-year basis.

Plains All American Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 7.8%. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, January 30th. Plains All American Pipeline’s dividend payout ratio is 100.60%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Plains All American Pipeline in a research report on Monday, December 29th. Citigroup upped their target price on Plains All American Pipeline from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Scotiabank reiterated an “outperform” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. Mizuho set a $23.00 price target on Plains All American Pipeline in a research note on Friday, January 23rd. Finally, Royal Bank Of Canada increased their price objective on Plains All American Pipeline from $20.00 to $21.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.58.

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.