NBW Capital LLC Lowers Position in Plains GP Holdings, L.P. (NYSE:PAGP)

NBW Capital LLC lowered its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 272,562 shares of the pipeline company’s stock after selling 12,135 shares during the period. NBW Capital LLC owned approximately 0.14% of Plains GP worth $5,010,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Plato Investment Management Ltd raised its holdings in shares of Plains GP by 144.2% in the 4th quarter. Plato Investment Management Ltd now owns 35,812 shares of the pipeline company’s stock valued at $661,000 after acquiring an additional 21,146 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Plains GP by 61.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 520 shares during the last quarter. US Bancorp DE increased its position in shares of Plains GP by 0.7% during the 4th quarter. US Bancorp DE now owns 86,863 shares of the pipeline company’s stock valued at $1,597,000 after purchasing an additional 598 shares during the last quarter. Linscomb Wealth Inc. increased its position in shares of Plains GP by 9.0% during the 4th quarter. Linscomb Wealth Inc. now owns 341,332 shares of the pipeline company’s stock valued at $6,274,000 after purchasing an additional 28,232 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Plains GP during the 4th quarter valued at about $380,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Trading Down 1.4 %

NYSE PAGP opened at $21.30 on Tuesday. Plains GP Holdings, L.P. has a fifty-two week low of $17.17 and a fifty-two week high of $22.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a 50 day simple moving average of $20.62 and a two-hundred day simple moving average of $19.37. The stock has a market cap of $4.21 billion, a P/E ratio of 40.19 and a beta of 1.58.

Plains GP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.38 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.14%. This is a boost from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s dividend payout ratio (DPR) is 286.79%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PAGP shares. Barclays increased their price objective on 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 Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Raymond James raised their price target on Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.60.

Plains GP Company Profile

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.