BNP Paribas Financial Markets Has $20.05 Million Position in Plains GP Holdings, L.P. $PAGP

BNP Paribas Financial Markets boosted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 15.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,047,327 shares of the pipeline company’s stock after acquiring an additional 139,389 shares during the quarter. BNP Paribas Financial Markets’ holdings in Plains GP were worth $20,046,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Linscomb Wealth Inc. grew its position in Plains GP by 0.6% in the 4th quarter. Linscomb Wealth Inc. now owns 369,729 shares of the pipeline company’s stock valued at $7,077,000 after purchasing an additional 2,117 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Plains GP by 46.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 25,103 shares of the pipeline company’s stock valued at $480,000 after purchasing an additional 8,000 shares during the period. Geode Capital Management LLC grew its position in Plains GP by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 159,492 shares of the pipeline company’s stock valued at $3,053,000 after purchasing an additional 1,067 shares during the period. Americana Partners LLC grew its position in Plains GP by 1.7% in the 4th quarter. Americana Partners LLC now owns 228,717 shares of the pipeline company’s stock valued at $4,378,000 after purchasing an additional 3,800 shares during the period. Finally, Callahan Advisors LLC grew its position in Plains GP by 25.9% in the 4th quarter. Callahan Advisors LLC now owns 14,600 shares of the pipeline company’s stock valued at $279,000 after purchasing an additional 3,000 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PAGP. Stifel Nicolaus lifted their price target on shares of Plains GP from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, March 6th. US Capital Advisors downgraded shares of Plains GP from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Citigroup lifted their price objective on shares of Plains GP from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Zacks Research raised shares of Plains GP from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, Barclays lifted their price objective on shares of Plains GP from $18.00 to $21.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Plains GP presently has a consensus rating of “Hold” and an average price target of $22.64.

Plains GP Trading Down 1.3%

NYSE PAGP opened at $24.46 on Friday. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 46.15 and a beta of 0.46. Plains GP Holdings, L.P. has a one year low of $16.68 and a one year high of $26.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The business’s fifty day moving average is $24.09 and its 200-day moving average is $21.78.

Plains GP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Friday, May 1st. Plains GP’s payout ratio is presently 172.16%.

About Plains GP

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.