Americana Partners LLC Has $3.90 Million Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Americana Partners LLC grew its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 512.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 212,307 shares of the pipeline company’s stock after purchasing an additional 177,625 shares during the period. Americana Partners LLC’s holdings in Plains GP were worth $3,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp boosted its position in Plains GP by 17.1% during the 3rd quarter. State Street Corp now owns 640,918 shares of the pipeline company’s stock worth $11,857,000 after buying an additional 93,643 shares during the period. Custom Index Systems LLC bought a new stake in shares of Plains GP in the 4th quarter valued at $265,000. Chickasaw Capital Management LLC increased its stake in shares of Plains GP by 24.7% in the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock valued at $151,047,000 after acquiring an additional 1,629,008 shares in the last quarter. Vestcor Inc increased its stake in Plains GP by 79.1% during the 3rd quarter. Vestcor Inc now owns 78,442 shares of the pipeline company’s stock valued at $1,451,000 after purchasing an additional 34,633 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in Plains GP by 1.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock valued at $80,900,000 after purchasing an additional 53,000 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Raymond James increased their target price 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. Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Wells Fargo & Company lowered shares of Plains GP 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 research report on Wednesday, December 18th. Barclays boosted their price target on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Finally, Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.60.

Plains GP Stock Up 0.9 %

NYSE PAGP opened at $21.10 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $20.03 and a two-hundred day moving average of $19.14. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 24.85 and a beta of 1.58. Plains GP Holdings, L.P. has a 52 week low of $16.36 and a 52 week high of $22.31.

Plains GP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.38 dividend. This is an increase from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.20%. The ex-dividend date was Friday, January 31st. Plains GP’s payout ratio is presently 178.82%.

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.