Kayne Anderson Capital Advisors LP Has $14.38 Million Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Kayne Anderson Capital Advisors LP cut its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 53.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 782,092 shares of the pipeline company’s stock after selling 908,567 shares during the quarter. Plains GP comprises approximately 0.3% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 27th biggest position. Kayne Anderson Capital Advisors LP owned approximately 0.40% of Plains GP worth $14,375,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its stake in Plains GP by 61.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 520 shares during the period. US Bancorp DE increased its holdings in shares of Plains GP by 0.7% in the fourth 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. Continuum Advisory LLC raised its position in shares of Plains GP by 10.0% in the third quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after purchasing an additional 637 shares during the period. Townsquare Capital LLC lifted its stake in shares of Plains GP by 1.2% during the 3rd quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock worth $1,110,000 after buying an additional 729 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Plains GP by 3.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 25,634 shares of the pipeline company’s stock worth $471,000 after buying an additional 748 shares during the period. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Trading Down 0.5 %

PAGP opened at $20.65 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average price of $20.89 and a two-hundred day moving average price of $19.45. The company has a market cap of $4.08 billion, a P/E ratio of 38.96 and a beta of 1.55. Plains GP Holdings, L.P. has a 1-year low of $17.17 and a 1-year high of $22.31.

Plains GP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.38 per share. This is an increase from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.52 annualized dividend and a dividend yield of 7.36%. Plains GP’s dividend payout ratio is presently 286.79%.

Analyst Ratings Changes

PAGP has been the subject of several recent research reports. Barclays boosted their price target on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. StockNews.com cut shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Wolfe Research raised shares of 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. Raymond James boosted their price objective 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, Wells Fargo & Company cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average 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.