NBW Capital LLC Has $5.01 Million Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

NBW Capital LLC lowered its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 272,562 shares of the pipeline company's stock after selling 12,135 shares during the period. NBW Capital LLC owned about 0.14% of Plains GP worth $5,010,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PAGP. Plato Investment Management Ltd lifted its position 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 worth $661,000 after acquiring an additional 21,146 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Plains GP by 61.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock worth $25,000 after acquiring an additional 520 shares during the last quarter. US Bancorp DE lifted its holdings in Plains GP by 0.7% during the 4th quarter. US Bancorp DE now owns 86,863 shares of the pipeline company's stock worth $1,597,000 after buying an additional 598 shares in the last quarter. Linscomb Wealth Inc. boosted its holdings in Plains GP by 9.0% in the fourth quarter. Linscomb Wealth Inc. now owns 341,332 shares of the pipeline company's stock valued at $6,274,000 after acquiring an additional 28,232 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in Plains GP during the 4th quarter worth about $380,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company lowered shares of Plains GP from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Raymond James lifted their price target on shares of Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 28th. Wolfe Research upgraded Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research note on Friday, January 10th. StockNews.com cut shares of Plains GP from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Barclays lifted their target price on shares of Plains GP from $18.00 to $19.00 and gave the stock an "underweight" rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Plains GP currently has a consensus rating of "Hold" and an average target price of $20.60.

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Plains GP Stock Performance

Shares of NYSE:PAGP traded up $0.30 during midday trading on Friday, hitting $20.70. The company had a trading volume of 1,350,925 shares, compared to its average volume of 1,523,724. Plains GP Holdings, L.P. has a 12-month low of $17.17 and a 12-month 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 cap of $4.09 billion, a price-to-earnings ratio of 39.06 and a beta of 1.58. The company has a fifty day moving average of $20.74 and a two-hundred day moving average of $19.40.

Plains GP Increases Dividend

The business also recently disclosed 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 represents a $1.52 annualized dividend and a dividend yield of 7.34%. This is an increase from Plains GP's previous quarterly dividend of $0.32. Plains GP's dividend 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.