Chickasaw Capital Management LLC Boosts Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Chickasaw Capital Management LLC lifted its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 1.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,140,089 shares of the pipeline company’s stock after acquiring an additional 42,383 shares during the quarter. Plains All American Pipeline comprises approximately 3.1% of Chickasaw Capital Management LLC’s portfolio, making the stock its 11th largest holding. Chickasaw Capital Management LLC’s holdings in Plains All American Pipeline were worth $71,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. Valeo Financial Advisors LLC bought a new position in Plains All American Pipeline in the third quarter valued at about $283,000. Future Financial Wealth Managment LLC bought a new position in shares of Plains All American Pipeline in the 3rd quarter worth approximately $28,000. Axiom Advisory LLC boosted its holdings in shares of Plains All American Pipeline by 5.2% in the third quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock worth $274,000 after buying an additional 750 shares during the last quarter. Walnut Private Equity Partners LLC raised its position in Plains All American Pipeline by 3.7% in the third quarter. Walnut Private Equity Partners LLC now owns 425,000 shares of the pipeline company’s stock worth $7,624,000 after acquiring an additional 15,000 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of Plains All American Pipeline during the 2nd quarter valued at $862,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analyst Upgrades and Downgrades

PAA has been the topic of several recent research reports. UBS Group raised their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.10.

Plains All American Pipeline Price Performance

PAA stock traded up $0.08 during mid-day trading on Friday, hitting $17.69. The company had a trading volume of 1,336,713 shares, compared to its average volume of 2,716,676. The company has a 50-day moving average price of $17.56 and a 200 day moving average price of $17.67. Plains All American Pipeline, L.P. has a 12-month low of $14.46 and a 12-month high of $19.17. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 15.25 and a beta of 1.60. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The company had revenue of $12.93 billion during the quarter, compared to analyst estimates of $12.32 billion. During the same period in the prior year, the company earned $0.25 earnings per share. The firm’s revenue was up 11.5% on a year-over-year basis. On average, research analysts anticipate that Plains All American Pipeline, L.P. will post 1.3 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.18%. Plains All American Pipeline’s dividend payout ratio (DPR) is 109.48%.

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.