Cbre Investment Management Listed Real Assets LLC Sells 344,055 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Cbre Investment Management Listed Real Assets LLC reduced its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 26.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 940,002 shares of the pipeline company's stock after selling 344,055 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned about 0.48% of Plains GP worth $17,277,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Jones Financial Companies Lllp lifted its holdings in Plains GP by 61.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock worth $25,000 after purchasing an additional 520 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Plains GP during the 4th quarter worth $33,000. Allworth Financial LP bought a new position in Plains GP during the 4th quarter worth $44,000. Hara Capital LLC acquired a new stake in shares of Plains GP during the third quarter worth $57,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of Plains GP in the fourth quarter valued at about $103,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PAGP. Wells Fargo & Company cut shares of Plains GP from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $22.00 to $20.00 in a research note 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 report on Tuesday, January 28th. StockNews.com lowered Plains GP from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Wolfe Research upgraded Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 target price for the company in a research report on Friday, January 10th. Finally, Barclays raised their price target on Plains GP from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $20.60.

Plains GP Price Performance

Shares of PAGP stock traded up $0.07 on Thursday, reaching $20.40. The company had a trading volume of 1,446,298 shares, compared to its average volume of 1,525,531. The business's 50-day moving average is $20.70 and its 200 day moving average is $19.39. Plains GP Holdings, L.P. has a one year low of $17.17 and a one year high of $22.31. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $4.03 billion, a PE ratio of 38.49 and a beta of 1.58.

Plains GP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.45%. This is a positive change from Plains GP's previous quarterly dividend of $0.32. Plains GP's dividend payout ratio (DPR) is currently 286.79%.

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.