Tortoise Capital Advisors L.L.C. Purchases 927,855 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Tortoise Capital Advisors L.L.C. boosted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,513,005 shares of the pipeline company's stock after buying an additional 927,855 shares during the period. Plains GP makes up 2.9% of Tortoise Capital Advisors L.L.C.'s investment portfolio, making the stock its 13th biggest holding. Tortoise Capital Advisors L.L.C. owned approximately 6.34% of Plains GP worth $229,989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PAGP. 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 valued at $151,047,000 after purchasing an additional 1,629,008 shares during the period. Clearbridge Investments LLC increased its stake in Plains GP by 11.7% in the 4th quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company's stock worth $113,077,000 after acquiring an additional 646,130 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Plains GP by 10.0% in the 4th quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company's stock valued at $58,213,000 after acquiring an additional 288,430 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Plains GP during the 4th quarter valued at about $5,214,000. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Plains GP by 114.8% during 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 in the last quarter. Institutional investors own 88.30% of the company's stock.

Plains GP Stock Performance

Shares of PAGP stock traded down $0.03 on Friday, reaching $19.32. The stock had a trading volume of 758,070 shares, compared to its average volume of 1,567,911. The stock has a market cap of $3.82 billion, a P/E ratio of 36.44 and a beta of 1.11. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP Holdings, L.P. has a 1 year low of $16.61 and a 1 year high of $22.31. The company has a 50 day simple moving average of $20.26 and a 200 day simple moving average of $19.68.

Plains GP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 7.87%. Plains GP's dividend payout ratio is currently 286.79%.

Analyst Ratings Changes

PAGP has been the subject of several research analyst reports. Raymond James lifted their target price 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 downgraded shares of Plains GP from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. Morgan Stanley increased their target price on Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 25th. Wolfe Research raised Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research note on Friday, January 10th. Finally, Barclays reduced their price objective on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $20.83.

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.