Zurcher Kantonalbank Zurich Cantonalbank Has $756,000 Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 5.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 47,377 shares of the pipeline company’s stock after buying an additional 2,410 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Plains GP were worth $756,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PAGP. Chickasaw Capital Management LLC raised its holdings in Plains GP by 6.9% in the 4th quarter. Chickasaw Capital Management LLC now owns 6,632,388 shares of the pipeline company’s stock valued at $105,787,000 after acquiring an additional 429,179 shares in the last quarter. Jennison Associates LLC boosted its stake in Plains GP by 43.7% during the third quarter. Jennison Associates LLC now owns 4,958,406 shares of the pipeline company’s stock worth $79,930,000 after buying an additional 1,506,884 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in Plains GP by 12.4% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,871,231 shares of the pipeline company’s stock valued at $78,524,000 after buying an additional 539,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in Plains GP by 1.8% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,480,000 shares of the pipeline company’s stock valued at $71,456,000 after acquiring an additional 77,357 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Plains GP by 88.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,772,217 shares of the pipeline company’s stock worth $60,167,000 after purchasing an additional 1,774,438 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

Plains GP Trading Up 0.9 %

Shares of NYSE PAGP opened at $18.93 on Tuesday. Plains GP Holdings, L.P. has a twelve month low of $12.59 and a twelve month high of $19.77. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 18.56 and a beta of 1.55. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The company’s fifty day moving average is $18.05 and its 200-day moving average is $16.76.

Plains GP (NYSE:PAGP) last posted its earnings results on Friday, February 9th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.88 billion. Plains GP had a net margin of 0.41% and a return on equity of 1.33%. Equities research analysts predict that Plains GP Holdings, L.P. will post 1.05 EPS for the current year.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains GP’s payout ratio is currently 124.51%.

Analyst Ratings Changes

PAGP has been the subject of a number of recent research reports. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Barclays increased their price objective on Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. UBS Group upped their target price on shares of Plains GP from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Scotiabank initiated coverage on shares of Plains GP in a report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price target for the company. Finally, Stifel Nicolaus upped their price objective on shares of Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.55.

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.