Plains GP Holdings, L.P. (NYSE:PAGP) Stock Position Increased by Americana Partners LLC

Americana Partners LLC grew its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 512.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,307 shares of the pipeline company's stock after purchasing an additional 177,625 shares during the quarter. Americana Partners LLC owned approximately 0.11% of Plains GP worth $3,902,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Chickasaw Capital Management LLC raised its stake in Plains GP by 24.7% during the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company's stock worth $151,047,000 after purchasing an additional 1,629,008 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in Plains GP by 1.2% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company's stock worth $80,900,000 after purchasing an additional 53,000 shares during the period. Miller Howard Investments Inc. NY raised its stake in Plains GP by 2.3% during the fourth quarter. Miller Howard Investments Inc. NY now owns 1,535,470 shares of the pipeline company's stock worth $28,222,000 after purchasing an additional 34,894 shares during the period. BNP Paribas Financial Markets increased its position in shares of Plains GP by 8.5% in the third quarter. BNP Paribas Financial Markets now owns 1,313,974 shares of the pipeline company's stock worth $24,309,000 after acquiring an additional 103,353 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of Plains GP in the third quarter worth $13,848,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Up 0.4 %

PAGP stock traded up $0.09 during mid-day trading on Wednesday, hitting $21.67. 845,936 shares of the company were exchanged, compared to its average volume of 1,967,233. The firm has a fifty day simple moving average of $20.11 and a 200 day simple moving average of $19.17. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a twelve month low of $16.77 and a twelve month high of $22.31. The company has a market capitalization of $4.28 billion, a PE ratio of 40.90 and a beta of 1.58.

Plains GP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.38 dividend. This is an increase from Plains GP's previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date of this dividend was Friday, January 31st. Plains GP's dividend payout ratio (DPR) is presently 286.80%.

Wall Street Analyst Weigh In

PAGP has been the subject of several recent research reports. StockNews.com lowered shares of Plains GP from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Wolfe Research raised shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price target for the company in a report on Friday, January 10th. Raymond James raised their price target on shares of Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 28th. Wells Fargo & Company lowered shares of Plains GP from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Barclays raised their price target on shares of 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 issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Plains GP currently has an average rating of "Hold" and a consensus price target of $20.60.

About Plains GP

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.