Clearbridge Investments LLC Has $113.08 Million Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Clearbridge Investments LLC boosted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,152,201 shares of the pipeline company's stock after acquiring an additional 646,130 shares during the quarter. Clearbridge Investments LLC owned 3.12% of Plains GP worth $113,077,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Townsquare Capital LLC increased its holdings in shares of Plains GP by 1.2% in the third quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company's stock valued at $1,110,000 after purchasing an additional 729 shares during the last quarter. Captrust Financial Advisors boosted its stake in Plains GP by 4.0% in the 3rd quarter. Captrust Financial Advisors now owns 57,596 shares of the pipeline company's stock valued at $1,066,000 after purchasing an additional 2,241 shares during the period. IHT Wealth Management LLC acquired a new position in Plains GP in the 3rd quarter valued at $222,000. Stifel Financial Corp increased its position in Plains GP by 13.0% during the 3rd quarter. Stifel Financial Corp now owns 687,257 shares of the pipeline company's stock worth $12,714,000 after buying an additional 78,845 shares during the period. Finally, State Street Corp lifted its holdings in shares of Plains GP by 17.1% during the third quarter. State Street Corp now owns 640,918 shares of the pipeline company's stock worth $11,857,000 after buying an additional 93,643 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company's stock.

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Plains GP Trading Down 4.4 %

Shares of NYSE:PAGP traded down $0.96 during midday trading on Thursday, hitting $20.65. 2,957,781 shares of the stock were exchanged, compared to its average volume of 1,582,899. The business's 50-day moving average price is $21.28 and its 200 day moving average price is $19.73. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 38.96 and a beta of 1.55. Plains GP Holdings, L.P. has a 12 month low of $17.17 and a 12 month high of $22.31. 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 Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on PAGP shares. Wolfe Research upgraded shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a research note on Friday, January 10th. Barclays boosted their price target on Plains GP from $18.00 to $19.00 and gave the company an "underweight" rating in a research note on Thursday, January 16th. Wells Fargo & Company lowered Plains GP from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. StockNews.com cut Plains GP from a "buy" rating to a "hold" rating in a report on Wednesday. Finally, Raymond James increased their target price on Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.