Chickasaw Capital Management LLC Increases Stock Position in Plains All American Pipeline, L.P. $PAA

Chickasaw Capital Management LLC increased its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 7.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,736,622 shares of the pipeline company’s stock after buying an additional 178,860 shares during the quarter. Plains All American Pipeline comprises about 1.9% of Chickasaw Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. Chickasaw Capital Management LLC owned 0.39% of Plains All American Pipeline worth $46,687,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PAA. Invesco Ltd. increased its stake in Plains All American Pipeline by 10.1% during the second quarter. Invesco Ltd. now owns 32,602,733 shares of the pipeline company’s stock worth $597,282,000 after acquiring an additional 3,003,351 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Plains All American Pipeline by 7.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company’s stock worth $422,894,000 after purchasing an additional 1,524,185 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Plains All American Pipeline by 7.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,463,963 shares of the pipeline company’s stock worth $329,279,000 after purchasing an additional 1,166,369 shares in the last quarter. BROOKFIELD Corp ON raised its holdings in Plains All American Pipeline by 18.9% in the second quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the pipeline company’s stock valued at $124,112,000 after buying an additional 1,076,291 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Plains All American Pipeline by 2.4% during the second quarter. JPMorgan Chase & Co. now owns 6,231,899 shares of the pipeline company’s stock valued at $114,168,000 after buying an additional 146,105 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Morgan Stanley increased 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 report on Tuesday, November 25th. Raymond James Financial reiterated a “strong-buy” rating and issued a $22.00 price target (down from $24.00) on shares of Plains All American Pipeline in a report on Friday, October 24th. JPMorgan Chase & Co. reduced their price objective on Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 18th. Scotiabank decreased their target price on Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating for the company in a research report on Thursday, November 13th. Finally, Barclays dropped their target price on Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Plains All American Pipeline has an average rating of “Hold” and an average price target of $20.60.

Plains All American Pipeline Trading Up 1.1%

NYSE:PAA opened at $17.75 on Thursday. The stock has a market cap of $12.52 billion, a price-to-earnings ratio of 24.32 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 company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The business’s 50-day simple moving average is $16.89 and its 200 day simple moving average is $17.49.

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

Plains All American Pipeline Dividend Announcement

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

Plains All American Pipeline Company Profile

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.