Oxbow Advisors LLC Decreases Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Oxbow Advisors LLC reduced its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 52.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 320,858 shares of the pipeline company's stock after selling 347,034 shares during the period. Oxbow Advisors LLC owned about 0.16% of Plains GP worth $5,897,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Chickasaw Capital Management LLC boosted its holdings in Plains GP by 24.7% in the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company's stock worth $151,047,000 after buying an additional 1,629,008 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in shares of Plains GP in the third quarter worth $13,848,000. Yaupon Capital Management LP purchased a new position in shares of Plains GP in the third quarter valued at $9,772,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Plains GP during the 3rd quarter valued at $4,013,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in 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 purchasing an additional 198,000 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PAGP shares. Raymond James lifted their target price on Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 28th. Wells Fargo & Company cut shares of Plains GP from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. StockNews.com lowered shares of Plains GP from a "buy" rating to a "hold" rating in a 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 for the company in a report on Friday, January 10th. Finally, Barclays upped their price target 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 research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Plains GP presently has an average rating of "Hold" and a consensus target price of $20.60.

Plains GP Price Performance

Shares of NYSE PAGP traded up $0.01 during mid-day trading on Wednesday, reaching $21.32. 1,289,051 shares of the company were exchanged, compared to its average volume of 1,983,734. Plains GP Holdings, L.P. has a 52 week low of $16.91 and a 52 week high of $22.31. The company's 50 day moving average price is $20.36 and its 200 day moving average price is $19.29. The stock has a market capitalization of $4.21 billion, a PE ratio of 40.23 and a beta of 1.58. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.38 per share. The ex-dividend date was Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.13%. This is a positive change from Plains GP's previous quarterly dividend of $0.32. Plains GP's payout ratio is 286.79%.

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.