Chickasaw Capital Management LLC Has $40.85 Million Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Chickasaw Capital Management LLC reduced its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 42.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,391,941 shares of the pipeline company’s stock after selling 1,748,148 shares during the period. Plains All American Pipeline makes up about 1.7% of Chickasaw Capital Management LLC’s investment portfolio, making the stock its 11th biggest position. Chickasaw Capital Management LLC’s holdings in Plains All American Pipeline were worth $40,854,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PAA. Wilmington Savings Fund Society FSB bought a new stake in shares of Plains All American Pipeline during the third quarter worth $27,000. Future Financial Wealth Managment LLC bought a new position in Plains All American Pipeline during the third quarter worth about $28,000. Sunbelt Securities Inc. lifted its holdings in Plains All American Pipeline by 53.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock valued at $68,000 after purchasing an additional 1,318 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Plains All American Pipeline by 31.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock worth $80,000 after buying an additional 1,060 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Plains All American Pipeline by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 856 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Trading Up 0.7 %

Plains All American Pipeline stock traded up $0.12 during mid-day trading on Tuesday, hitting $17.70. 2,442,113 shares of the stock were exchanged, compared to its average volume of 3,948,445. The firm’s fifty day simple moving average is $17.42 and its two-hundred day simple moving average is $17.65. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 12 month low of $15.02 and a 12 month high of $19.17. The stock has a market capitalization of $12.45 billion, a price-to-earnings ratio of 15.80 and a beta of 1.64.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The firm had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.35 EPS. Analysts forecast that Plains All American Pipeline, L.P. will post 1.24 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Bank of America began coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target on the stock. 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 Friday, November 15th. Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Wells Fargo & Company downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $19.82.

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.