JPMorgan Chase & Co. trimmed its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 51.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,896 shares of the pipeline company's stock after selling 216,153 shares during the quarter. JPMorgan Chase & Co. owned 0.10% of Plains GP worth $3,711,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Chickasaw Capital Management LLC increased its holdings 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 buying an additional 1,629,008 shares during the last quarter. Vanguard Group Inc. lifted its stake in Plains GP by 10.0% during the fourth quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company's stock worth $58,213,000 after purchasing an additional 288,430 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Plains GP in the fourth quarter valued at approximately $5,214,000. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Plains GP by 114.8% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 370,496 shares of the pipeline company's stock worth $6,810,000 after buying an additional 198,000 shares during the last quarter. Finally, Stephens Inc. AR boosted its holdings in shares of Plains GP by 1,862.0% in the 4th quarter. Stephens Inc. AR now owns 207,678 shares of the pipeline company's stock valued at $3,817,000 after buying an additional 197,093 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company's stock.
Plains GP Price Performance
Shares of NYSE:PAGP traded up $0.05 during midday trading on Friday, hitting $19.39. 463,853 shares of the stock were exchanged, compared to its average volume of 1,566,690. Plains GP Holdings, L.P. has a twelve month low of $16.61 and a twelve month high of $22.31. 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 50 day moving average price of $20.26 and a 200-day moving average price of $19.68. The stock has a market cap of $3.83 billion, a P/E ratio of 36.57 and a beta of 1.11.
Plains GP Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 7.84%. The ex-dividend date of this dividend is Thursday, May 1st. Plains GP's payout ratio is currently 286.79%.
Analysts Set New Price Targets
Several research firms have recently weighed in on PAGP. Morgan Stanley boosted their target price on Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, March 25th. Barclays lowered their price objective on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. Raymond James increased their target price on Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 28th. StockNews.com downgraded Plains GP from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Finally, Wolfe Research raised Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 target price for the company in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $20.83.
Get Our Latest Research Report on PAGP
Plains GP Company Profile
(
Free Report)
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.
Read More
Before you consider Plains GP, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Plains GP wasn't on the list.
While Plains GP currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
