Plains GP Holdings, L.P. (NYSE:PAGP) is CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's 7th Largest Position

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT decreased its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,953,000 shares of the pipeline company's stock after selling 420,000 shares during the period. Plains GP makes up 4.8% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 7th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 2.00% of Plains GP worth $72,656,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PAGP. Janney Montgomery Scott LLC acquired a new stake in shares of Plains GP during the 4th quarter worth approximately $676,000. SG Americas Securities LLC bought a new position in Plains GP during the fourth quarter worth $308,000. Fort Washington Investment Advisors Inc. OH grew its holdings in Plains GP by 114.8% in 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 purchasing an additional 198,000 shares during the period. Ellsworth Advisors LLC bought a new stake in Plains GP in the fourth quarter valued at $706,000. Finally, HF Advisory Group LLC raised its holdings in shares of Plains GP by 31.0% during the fourth quarter. HF Advisory Group LLC now owns 138,058 shares of the pipeline company's stock valued at $2,538,000 after purchasing an additional 32,691 shares during the period. Institutional investors own 88.30% of the company's stock.

Plains GP Stock Down 0.5 %

Shares of PAGP stock traded down $0.12 on Friday, hitting $21.76. The stock had a trading volume of 1,859,977 shares, compared to its average volume of 1,684,218. Plains GP Holdings, L.P. has a 12-month low of $15.78 and a 12-month high of $22.31. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 25.60 and a beta of 1.58. The business has a 50 day moving average of $19.45 and a 200 day moving average of $18.96. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Plains GP (NYSE:PAGP - Get Free Report) last posted its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.21). The firm had revenue of $12.74 billion during the quarter, compared to analysts' expectations of $13.17 billion. Plains GP had a net margin of 0.33% and a return on equity of 1.12%. During the same quarter last year, the business posted $0.15 EPS. As a group, analysts expect that Plains GP Holdings, L.P. will post 0.83 EPS for the current year.

Plains GP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 6.99%. The ex-dividend date is Friday, January 31st. This is an increase from Plains GP's previous quarterly dividend of $0.32. Plains GP's dividend payout ratio is 149.41%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Morgan Stanley downgraded Plains GP from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Barclays boosted their price objective on Plains GP from $18.00 to $19.00 and gave the company an "underweight" rating in a report on Thursday, January 16th. StockNews.com raised Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Wells Fargo & Company downgraded shares of Plains GP from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Finally, Wolfe Research upgraded shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $20.22.

Plains GP Company 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.