Plains GP Holdings, L.P. (NYSE:PAGP) Shares Acquired by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC raised its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 24.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,218,030 shares of the pipeline company's stock after buying an additional 1,629,008 shares during the quarter. Plains GP comprises about 6.1% of Chickasaw Capital Management LLC's investment portfolio, making the stock its 8th largest holding. Chickasaw Capital Management LLC owned approximately 4.16% of Plains GP worth $151,047,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Hara Capital LLC acquired a new stake in Plains GP in the third quarter worth about $57,000. Eastern Bank acquired a new stake in Plains GP in the 3rd quarter worth approximately $76,000. Continuum Advisory LLC grew its position in Plains GP by 10.0% during the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company's stock worth $127,000 after purchasing an additional 637 shares during the last quarter. Insigneo Advisory Services LLC acquired a new position in Plains GP during the 3rd quarter valued at approximately $188,000. Finally, Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Plains GP in the third quarter worth $200,000. 88.30% of the stock is currently owned by institutional investors.

Plains GP Stock Performance

Shares of PAGP traded down $0.01 during trading hours on Tuesday, hitting $18.78. The stock had a trading volume of 1,284,661 shares, compared to its average volume of 1,412,965. The firm has a 50-day moving average price of $18.64 and a 200 day moving average price of $18.78. Plains GP Holdings, L.P. has a fifty-two week low of $15.78 and a fifty-two week high of $20.10. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 22.09 and a beta of 1.58. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Analyst Ratings Changes

A number of brokerages recently issued reports on PAGP. Wolfe Research upgraded Plains GP to a "hold" rating in a research note on Wednesday, September 18th. StockNews.com upgraded Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Wells Fargo & Company lowered Plains GP from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Finally, Morgan Stanley cut shares of Plains GP from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $19.88.

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.