Fox Run Management L.L.C. Takes $737,000 Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Fox Run Management L.L.C. bought a new position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 40,114 shares of the pipeline company's stock, valued at approximately $737,000.

Other hedge funds also recently made changes to their positions in the company. Chickasaw Capital Management LLC lifted its position in Plains GP by 24.7% in the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company's stock valued at $151,047,000 after purchasing an additional 1,629,008 shares during the period. Yaupon Capital Management LP purchased a new position in shares of Plains GP during the 3rd quarter worth approximately $9,772,000. Raymond James Financial Inc. acquired a new stake in shares of Plains GP in the 4th quarter valued at approximately $5,214,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Plains GP in the third quarter valued at approximately $4,013,000. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in Plains GP by 114.8% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 370,496 shares of the pipeline company's stock worth $6,810,000 after acquiring an additional 198,000 shares during the period. Institutional investors and hedge funds own 88.30% of the company's stock.

Analysts Set New Price Targets

PAGP has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Raymond James upped their target price on shares of Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 28th. StockNews.com upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a research report on Tuesday. Wells Fargo & Company cut Plains GP from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, 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 report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $21.00.

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Plains GP Price Performance

Shares of NYSE PAGP traded up $0.05 during trading on Friday, reaching $21.51. The company had a trading volume of 1,416,008 shares, compared to its average volume of 1,583,537. 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 stock has a market capitalization of $4.25 billion, a PE ratio of 40.59 and a beta of 1.55. Plains GP Holdings, L.P. has a twelve month low of $17.17 and a twelve month high of $22.31. The stock has a 50-day moving average price of $21.30 and a two-hundred day moving average price of $19.66.

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 issued a dividend of $0.38 per share. The ex-dividend date was Friday, January 31st. This is an increase from Plains GP's previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.07%. Plains GP's payout ratio is 286.79%.

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.