Plains All American Pipeline, L.P. $PAA Shares Purchased by Chickasaw Capital Management LLC

Key Points

• Chickasaw Capital Management LLC increased its stake in Plains All American Pipeline by 8.7%, owning approximately 2.56 million shares and making it their 11th largest investment.
• Institutional investors collectively own 41.78% of Plains All American Pipeline's stock, with several firms recently increasing their positions in the company.
• Analysts have mixed ratings for the stock, with a current consensus rating of "Hold" and an average target price of $20.58 based on various recent evaluations.

Chickasaw Capital Management LLC grew its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 8.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,557,762 shares of the pipeline company's stock after acquiring an additional 204,369 shares during the quarter. Plains All American Pipeline comprises about 1.9% of Chickasaw Capital Management LLC's investment portfolio, making the stock its 11th biggest holding. Chickasaw Capital Management LLC owned 0.36% of Plains All American Pipeline worth $46,858,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in Plains All American Pipeline by 107.0% during the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock valued at $26,000 after acquiring an additional 657 shares during the period. Atwood & Palmer Inc. purchased a new stake in shares of Plains All American Pipeline in the 2nd quarter worth approximately $42,000. North Capital Inc. purchased a new position in Plains All American Pipeline in the first quarter valued at about $61,000. National Bank of Canada FI lifted its position in Plains All American Pipeline by 99.4% during the first quarter. National Bank of Canada FI now owns 3,210 shares of the pipeline company's stock valued at $64,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV purchased a new stake in Plains All American Pipeline in the first quarter valued at about $68,000. 41.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PAA has been the subject of a number of research analyst reports. Morgan Stanley decreased their price target on shares of Plains All American Pipeline from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Tuesday, August 26th. Scotiabank restated an "outperform" rating on shares of Plains All American Pipeline in a research note on Monday, September 8th. UBS Group set a $25.00 target price on shares of Plains All American Pipeline and gave the stock a "buy" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. reduced their target price on shares of Plains All American Pipeline from $21.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Plains All American Pipeline in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $20.58.

Plains All American Pipeline Price Performance

Shares of PAA stock traded down $0.39 during trading hours on Friday, reaching $17.02. The company had a trading volume of 2,377,864 shares, compared to its average volume of 3,455,573. Plains All American Pipeline, L.P. has a 12-month low of $15.57 and a 12-month high of $21.00. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 23.32 and a beta of 0.80. 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 stock has a fifty day moving average of $17.92 and a 200-day moving average of $17.98.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.During the same period in the previous year, the firm earned $0.31 EPS. The firm's revenue was down 16.6% on a year-over-year basis. On average, equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.9%. The ex-dividend date was Thursday, July 31st. Plains All American Pipeline's dividend payout ratio (DPR) is currently 172.73%.

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.