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

Chickasaw Capital Management LLC decreased its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 42.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,391,941 shares of the pipeline company’s stock after selling 1,748,148 shares during the quarter. Plains All American Pipeline accounts for approximately 1.7% of Chickasaw Capital Management LLC’s holdings, making the stock its 11th largest position. Chickasaw Capital Management LLC owned approximately 0.34% of Plains All American Pipeline worth $40,854,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PAA. Fortem Financial Group LLC increased its holdings in shares of Plains All American Pipeline by 4.4% in the fourth quarter. Fortem Financial Group LLC now owns 66,278 shares of the pipeline company’s stock valued at $1,132,000 after buying an additional 2,772 shares in the last quarter. CWA Asset Management Group LLC raised its position in shares of Plains All American Pipeline by 0.8% during the fourth quarter. CWA Asset Management Group LLC now owns 266,756 shares of the pipeline company’s stock worth $4,556,000 after purchasing an additional 2,109 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Plains All American Pipeline by 58.9% during the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after purchasing an additional 2,677,951 shares during the last quarter. Syntax Research Inc. acquired a new position in shares of Plains All American Pipeline in the 3rd quarter valued at $1,742,000. Finally, Tidal Investments LLC raised its holdings in Plains All American Pipeline by 6.0% during the 3rd quarter. Tidal Investments LLC now owns 24,815 shares of the pipeline company’s stock worth $431,000 after buying an additional 1,400 shares during the period. 41.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PAA has been the subject of a number of recent analyst reports. Bank of America started coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price objective for the company. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research report on Friday, November 15th. Finally, Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the company 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 assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.82.

Plains All American Pipeline Stock Performance

NYSE:PAA traded up $0.12 during trading hours on Tuesday, hitting $17.70. 2,442,113 shares of the company traded hands, compared to its average volume of 3,948,445. The firm has a 50-day moving average of $17.42 and a 200 day moving average of $17.65. Plains All American Pipeline, L.P. has a twelve month low of $15.02 and a twelve month high of $19.17. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. 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 posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. The firm had revenue of $12.74 billion during the quarter, compared to analysts’ expectations of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, analysts forecast that Plains All American Pipeline, L.P. will post 1.24 EPS for the current year.

About Plains All American Pipeline

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.