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

Oxbow Advisors LLC lessened its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 52.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 320,858 shares of the pipeline company’s stock after selling 347,034 shares during the period. Oxbow Advisors LLC’s holdings in Plains GP were worth $5,897,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in Plains GP during the fourth quarter valued at approximately $33,000. Allworth Financial LP purchased a new stake in Plains GP during the fourth quarter valued at approximately $44,000. Hara Capital LLC purchased a new stake in Plains GP during the third quarter valued at approximately $57,000. Eastern Bank purchased a new stake in Plains GP during the third quarter valued at approximately $76,000. Finally, Venturi Wealth Management LLC purchased a new stake in Plains GP during the fourth quarter valued at approximately $103,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Friday, January 10th. Wells Fargo & Company cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Barclays increased their target price on shares of Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. StockNews.com lowered shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, 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 research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.60.

Plains GP Stock Down 0.7 %

NYSE:PAGP opened at $21.68 on Friday. The firm has a market capitalization of $4.28 billion, a P/E ratio of 41.21 and a beta of 1.58. Plains GP Holdings, L.P. has a 1-year low of $16.90 and a 1-year high of $22.31. The company’s fifty day moving average price is $20.21 and its 200-day moving average price is $19.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Plains GP Increases Dividend

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

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.