Catalyst Capital Advisors LLC Has $13.80 Million Stock Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Catalyst Capital Advisors LLC raised its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 2.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 750,930 shares of the pipeline company's stock after acquiring an additional 18,595 shares during the period. Catalyst Capital Advisors LLC owned approximately 0.38% of Plains GP worth $13,802,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Golden State Wealth Management LLC bought a new stake in shares of Plains GP in the 4th quarter valued at $33,000. Allworth Financial LP acquired a new stake in shares of Plains GP during the fourth quarter worth $44,000. Hara Capital LLC acquired a new position in Plains GP in the 3rd quarter worth $57,000. Eastern Bank acquired a new position in Plains GP in the 3rd quarter worth $76,000. Finally, Continuum Advisory LLC raised its stake in shares of Plains GP by 10.0% in the 3rd 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. Institutional investors and hedge funds own 88.30% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on PAGP. StockNews.com cut shares of Plains GP from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Barclays upped their price objective on Plains GP from $18.00 to $19.00 and gave the company an "underweight" rating in a research note on Thursday, January 16th. Wolfe Research raised Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. Morgan Stanley lowered Plains GP from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Wells Fargo & Company downgraded Plains GP from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $20.60.

Plains GP Price Performance

NYSE:PAGP traded up $0.11 during trading hours on Thursday, reaching $21.84. 2,363,005 shares of the company were exchanged, compared to its average volume of 1,998,509. The business has a 50 day moving average of $20.16 and a 200 day moving average of $19.19. Plains GP Holdings, L.P. has a 1-year low of $16.84 and a 1-year high of $22.31. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The company has a market capitalization of $4.31 billion, a P/E ratio of 41.21 and a beta of 1.58.

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 given a dividend of $0.38 per share. This is a boost 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 yield of 6.96%. Plains GP's dividend payout ratio is currently 286.80%.

Plains GP 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.