Oxbow Advisors LLC Decreases Stock Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Oxbow Advisors LLC lowered its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 52.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 320,858 shares of the pipeline company’s stock after selling 347,034 shares during the quarter. Oxbow Advisors LLC owned about 0.16% of Plains GP worth $5,897,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Private Advisor Group LLC lifted its stake in Plains GP by 2.5% in the 4th quarter. Private Advisor Group LLC now owns 41,293 shares of the pipeline company’s stock worth $759,000 after purchasing an additional 1,015 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Plains GP in the 4th quarter worth about $103,000. D.A. Davidson & CO. increased its holdings in shares of Plains GP by 48.3% in the 4th quarter. D.A. Davidson & CO. now owns 74,626 shares of the pipeline company’s stock worth $1,372,000 after buying an additional 24,295 shares during the last quarter. Catalyst Capital Advisors LLC increased its holdings in shares of Plains GP by 2.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 750,930 shares of the pipeline company’s stock worth $13,802,000 after buying an additional 18,595 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Plains GP by 9.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 113,041 shares of the pipeline company’s stock worth $2,078,000 after buying an additional 9,460 shares during the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Price Performance

Shares of PAGP stock opened at $21.68 on Friday. 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 company has a market capitalization of $4.28 billion, a P/E ratio of 41.21 and a beta of 1.58. The company’s 50-day simple moving average is $20.21 and its two-hundred day simple moving average is $19.21. Plains GP Holdings, L.P. has a one year low of $16.90 and a one year high of $22.31.

Plains GP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.38 dividend. This is an increase from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date of this dividend was Friday, January 31st. Plains GP’s dividend payout ratio is currently 286.80%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays boosted their target price on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. StockNews.com downgraded shares of Plains GP from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Wolfe Research upgraded shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Friday, January 10th. Raymond James upped their price target on shares of Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $19.00 in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.60.

About Plains GP

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream infrastructure systems in the United States and Canada. It operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the gathering and transporting crude oil and NGLs using pipelines, gathering systems, and trucks.