Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC trimmed its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,353,393 shares of the pipeline company's stock after selling 38,548 shares during the quarter. Plains All American Pipeline accounts for about 1.8% of Chickasaw Capital Management LLC's investment portfolio, making the stock its 11th biggest position. Chickasaw Capital Management LLC owned approximately 0.33% of Plains All American Pipeline worth $47,068,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. increased its holdings in Plains All American Pipeline by 4.6% in the fourth quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company's stock valued at $475,301,000 after buying an additional 1,224,381 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Plains All American Pipeline by 8.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company's stock valued at $261,283,000 after buying an additional 1,211,286 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its holdings in Plains All American Pipeline by 0.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 13,321,966 shares of the pipeline company's stock valued at $227,539,000 after buying an additional 75,509 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Plains All American Pipeline by 8.7% in the fourth quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company's stock valued at $134,107,000 after buying an additional 630,141 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Plains All American Pipeline by 30.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company's stock valued at $92,470,000 after purchasing an additional 1,162,933 shares during the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Scotiabank lowered 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 report on Thursday. Wells Fargo & Company lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a report on Friday, May 9th. Mizuho lowered their target price on Plains All American Pipeline from $21.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, May 20th. Wall Street Zen raised Plains All American Pipeline from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $23.00 target price on shares of Plains All American Pipeline in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Plains All American Pipeline has an average rating of "Moderate Buy" and a consensus price target of $20.36.

Plains All American Pipeline Stock Performance

Shares of NYSE PAA traded up $0.36 during midday trading on Friday, hitting $17.44. 2,704,243 shares of the company's stock were exchanged, compared to its average volume of 3,124,291. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The stock's 50 day moving average price is $17.18 and its 200-day moving average price is $18.41. The firm has a market cap of $12.27 billion, a P/E ratio of 23.89 and a beta of 0.66. Plains All American Pipeline, L.P. has a twelve month low of $15.58 and a twelve month high of $21.00.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. The firm's revenue was up .1% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS. Equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a $0.38 dividend. The ex-dividend date was Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 8.72%. Plains All American Pipeline's dividend payout ratio (DPR) is 163.44%.

Plains All American Pipeline 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.