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

Chickasaw Capital Management LLC lowered its stake in Plains All American Pipeline, L.P. (NYSE:PAAFree Report) by 8.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 4,131,239 shares of the pipeline company’s stock after selling 370,346 shares during the quarter. Plains All American Pipeline comprises about 3.5% of Chickasaw Capital Management LLC’s holdings, making the stock its 10th biggest position. Chickasaw Capital Management LLC’s holdings in Plains All American Pipeline were worth $72,545,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. First National Trust Co increased its holdings in shares of Plains All American Pipeline by 10.1% in the 4th quarter. First National Trust Co now owns 11,277 shares of the pipeline company’s stock valued at $171,000 after purchasing an additional 1,038 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Plains All American Pipeline by 1.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 92,072 shares of the pipeline company’s stock valued at $1,411,000 after buying an additional 1,089 shares in the last quarter. Wealth Alliance Advisory Group LLC grew its stake in shares of Plains All American Pipeline by 1.3% in the 4th quarter. Wealth Alliance Advisory Group LLC now owns 83,690 shares of the pipeline company’s stock valued at $1,268,000 after buying an additional 1,112 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Plains All American Pipeline by 3.5% in the 4th quarter. Axxcess Wealth Management LLC now owns 34,910 shares of the pipeline company’s stock valued at $529,000 after buying an additional 1,195 shares in the last quarter. Finally, Spire Wealth Management grew its stake in shares of Plains All American Pipeline by 9.6% in the 4th quarter. Spire Wealth Management now owns 18,082 shares of the pipeline company’s stock valued at $282,000 after buying an additional 1,586 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Stock Up 0.2 %

Shares of NYSE PAA traded up $0.04 during mid-day trading on Wednesday, reaching $16.78. 1,837,073 shares of the company’s stock were exchanged, compared to its average volume of 1,689,354. The business has a fifty day simple moving average of $17.33 and a 200 day simple moving average of $16.51. Plains All American Pipeline, L.P. has a twelve month low of $13.20 and a twelve month high of $19.03. The firm has a market capitalization of $11.76 billion, a price-to-earnings ratio of 11.71 and a beta of 1.60. The company has a current ratio of 0.97, a quick ratio of 0.88 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAAGet Free Report) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, topping the consensus estimate 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 firm 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 EPS. The business’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, equities analysts expect that Plains All American Pipeline, L.P. will post 1.29 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a $0.3175 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.27 annualized dividend and a yield of 7.57%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 109.48%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PAA shares. Citigroup upped their target price on Plains All American Pipeline from $17.50 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. TD Securities upped their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday, May 6th. Wells Fargo & Company upped their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Morgan Stanley increased their price objective on Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Finally, Truist Financial upped their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Plains All American Pipeline presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.38.

View Our Latest Stock Analysis on PAA

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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