Zurcher Kantonalbank Zurich Cantonalbank Sells 29,181 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 34.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,163 shares of the pipeline company's stock after selling 29,181 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Plains GP were worth $1,032,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Plains GP in the third quarter valued at $13,848,000. Algert Global LLC increased its stake in shares of Plains GP by 128.6% in the third quarter. Algert Global LLC now owns 87,659 shares of the pipeline company's stock valued at $1,622,000 after buying an additional 49,320 shares in the last quarter. Larson Financial Group LLC acquired a new stake in shares of Plains GP in the third quarter valued at $353,000. BNP Paribas Financial Markets increased its stake 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 valued at $24,309,000 after buying an additional 103,353 shares in the last quarter. Finally, Townsquare Capital LLC increased its stake 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 buying an additional 729 shares in the last quarter. 88.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wolfe Research upgraded Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Raymond James lifted their price objective on Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 28th. 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 report on Wednesday, December 18th. Barclays lifted their price objective on Plains GP from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Thursday, January 16th. Finally, StockNews.com lowered Plains GP from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Plains GP currently has a consensus rating of "Hold" and a consensus price target of $20.60.

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Plains GP Trading Down 1.0 %

Shares of Plains GP stock traded down $0.22 during trading on Friday, hitting $21.34. 846,881 shares of the company were exchanged, compared to its average volume of 1,495,945. The firm has a market capitalization of $4.22 billion, a P/E ratio of 40.26 and a beta of 1.55. Plains GP Holdings, L.P. has a 1-year low of $17.17 and a 1-year high of $22.31. The firm's fifty day moving average price is $21.23 and its 200 day moving average price is $19.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Plains GP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.38 per share. This is a positive change from Plains GP's previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.12%. The ex-dividend date was Friday, January 31st. Plains GP's payout ratio is presently 286.79%.

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.