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Chickasaw Capital Management LLC Has $72.55 Million Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Plains All American Pipeline logo with Oils/Energy background

Chickasaw Capital Management LLC cut its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 8.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,131,239 shares of the pipeline company's stock after selling 370,346 shares during the quarter. Plains All American Pipeline makes up about 3.5% of Chickasaw Capital Management LLC's holdings, making the stock its 10th biggest position. Chickasaw Capital Management LLC owned about 0.59% of Plains All American Pipeline worth $72,545,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PAA. Blackstone Inc. grew its position in Plains All American Pipeline by 131.6% in the 3rd quarter. Blackstone Inc. now owns 24,267,022 shares of the pipeline company's stock worth $371,771,000 after purchasing an additional 13,787,485 shares during the last quarter. Alps Advisors Inc. grew its position in Plains All American Pipeline by 14.3% during the third quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company's stock worth $1,026,923,000 after buying an additional 8,406,683 shares in the last quarter. UBS Group AG increased its stake in Plains All American Pipeline by 89.3% during the fourth quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company's stock valued at $129,630,000 after acquiring an additional 4,035,328 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Plains All American Pipeline by 9.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company's stock valued at $195,561,000 after acquiring an additional 1,135,737 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in Plains All American Pipeline in the 3rd quarter valued at approximately $11,188,000. Institutional investors and hedge funds own 41.78% of the company's stock.


Wall Street Analysts Forecast Growth

PAA has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on Plains All American Pipeline from $17.00 to $18.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 14th. Wells Fargo & Company raised their price objective on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock an "overweight" rating in a report on Wednesday, May 8th. TD Securities upped their target price on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the company a "hold" rating in a research note on Monday, May 6th. Citigroup raised their price target on shares of Plains All American Pipeline from $17.50 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, May 6th. Finally, Truist Financial lifted their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Plains All American Pipeline presently has a consensus rating of "Moderate Buy" and an average price target of $19.38.

Get Our Latest Report on PAA

Plains All American Pipeline Price Performance

Shares of PAA traded up $0.04 on Wednesday, hitting $16.78. The company's stock had a trading volume of 1,837,073 shares, compared to its average volume of 1,689,354. The company has a 50 day moving average price of $17.30 and a 200 day moving average price of $16.52. Plains All American Pipeline, L.P. has a fifty-two week low of $13.20 and a fifty-two week high of $19.03. The company has a market capitalization of $11.76 billion, a PE ratio of 14.47 and a beta of 1.60. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.97 and a quick ratio of 0.88.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The company had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business's revenue was down 2.8% on a year-over-year basis. On average, research analysts anticipate that Plains All American Pipeline, L.P. will post 1.29 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.57%. The ex-dividend date of this dividend was Tuesday, April 30th. Plains All American Pipeline's dividend payout ratio is currently 109.48%.

About Plains All American Pipeline

(Free Report)

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.

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Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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