CIBC Private Wealth Group LLC Grows Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

CIBC Private Wealth Group LLC lifted its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 139.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 328,454 shares of the pipeline company's stock after purchasing an additional 191,549 shares during the period. CIBC Private Wealth Group LLC owned about 0.17% of Plains GP worth $6,546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PAGP. Townsquare Capital LLC grew its holdings in Plains GP by 1.2% during the 3rd quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company's stock worth $1,110,000 after acquiring an additional 729 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Plains GP by 4.0% during the 3rd quarter. Captrust Financial Advisors now owns 57,596 shares of the pipeline company's stock worth $1,066,000 after acquiring an additional 2,241 shares in the last quarter. IHT Wealth Management LLC acquired a new stake in shares of Plains GP during the 3rd quarter worth about $222,000. Stifel Financial Corp lifted its stake in Plains GP by 13.0% during the third quarter. Stifel Financial Corp now owns 687,257 shares of the pipeline company's stock worth $12,714,000 after purchasing an additional 78,845 shares during the last quarter. Finally, State Street Corp boosted its holdings in Plains GP by 17.1% in the third quarter. State Street Corp now owns 640,918 shares of the pipeline company's stock valued at $11,857,000 after purchasing an additional 93,643 shares in the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

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Plains GP Stock Performance

Shares of PAGP stock traded down $0.96 during mid-day trading on Thursday, hitting $20.65. The stock had a trading volume of 2,957,781 shares, compared to its average volume of 1,575,689. Plains GP Holdings, L.P. has a fifty-two week low of $17.17 and a fifty-two week 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's 50-day simple moving average is $21.28 and its 200-day simple moving average is $19.73. The firm has a market cap of $4.08 billion, a PE ratio of 38.96 and a beta of 1.55.

Plains GP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.36%. The ex-dividend date was Friday, January 31st. This is a positive change from Plains GP's previous quarterly dividend of $0.32. Plains GP's payout ratio is currently 286.79%.

Analyst Ratings Changes

A number of analysts have weighed in on PAGP shares. Raymond James raised their price objective on shares of Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 28th. Morgan Stanley boosted their target price on Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, March 25th. StockNews.com downgraded Plains GP from a "buy" rating to a "hold" rating in a research note on Wednesday. Wolfe Research raised Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a research report on Friday, January 10th. Finally, Barclays increased 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $21.00.

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.