Chickasaw Capital Management LLC Acquires 42,383 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Chickasaw Capital Management LLC raised its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 biggest holding. Chickasaw Capital Management LLC owned approximately 0.59% of Plains All American Pipeline worth $71,913,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. DRW Securities LLC bought a new position in Plains All American Pipeline in the 4th quarter worth about $1,661,000. BNP Paribas Financial Markets lifted its stake in Plains All American Pipeline by 69.4% in the 1st quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company’s stock worth $32,044,000 after purchasing an additional 747,852 shares in the last quarter. Sei Investments Co. bought a new position in Plains All American Pipeline in the 1st quarter valued at $2,608,000. FORVIS Wealth Advisors LLC purchased a new position in shares of Plains All American Pipeline during the 1st quarter valued at $3,227,000. Finally, Miller Howard Investments Inc. NY increased its holdings in shares of Plains All American Pipeline by 4.2% in the first quarter. Miller Howard Investments Inc. NY now owns 2,499,924 shares of the pipeline company’s stock worth $43,899,000 after purchasing an additional 99,915 shares during the period. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Trading Up 0.5 %

Shares of PAA stock traded up $0.08 on Friday, hitting $17.69. 1,336,713 shares of the company’s stock traded hands, compared to its average volume of 2,716,676. The company’s fifty day simple moving average is $17.56 and its 200 day simple moving average is $17.67. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.90 and a current ratio of 1.00. Plains All American Pipeline, L.P. has a one year low of $14.46 and a one year high of $19.17. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 15.25 and a beta of 1.60.

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

Plains All American Pipeline Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. UBS Group upped their target price 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 issued a $19.00 target price on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.10.

About Plains All American Pipeline

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.