Corient Private Wealth LLC Has $4.31 Million Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Corient Private Wealth LLC boosted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 234,250 shares of the pipeline company’s stock after buying an additional 1,622 shares during the quarter. Corient Private Wealth LLC owned approximately 0.12% of Plains GP worth $4,306,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Chickasaw Capital Management LLC raised its position in Plains GP by 24.7% in the fourth 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 last quarter. Miller Howard Investments Inc. NY raised its position in Plains GP by 2.3% in the fourth quarter. Miller Howard Investments Inc. NY now owns 1,535,470 shares of the pipeline company’s stock valued at $28,222,000 after purchasing an additional 34,894 shares during the last quarter. BNP Paribas Financial Markets raised its position in 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 purchasing an additional 103,353 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in Plains GP by 11.6% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 835,254 shares of the pipeline company’s stock valued at $15,352,000 after purchasing an additional 86,714 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its position in Plains GP by 2.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 750,930 shares of the pipeline company’s stock valued at $13,802,000 after purchasing an additional 18,595 shares during the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

Plains GP Trading Down 1.0 %

Shares of PAGP stock opened at $21.34 on Friday. The company has a market cap of $4.22 billion, a P/E ratio of 40.26 and a beta of 1.55. The stock has a 50 day simple moving average of $21.23 and a two-hundred day simple moving average of $19.56. 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 fifty-two week low of $17.17 and a fifty-two week high of $22.31.

Plains GP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s dividend payout ratio (DPR) is 286.79%.

Analysts Set New Price Targets

Several research firms have commented on PAGP. Barclays increased their target price on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Raymond James raised 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 downgraded 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. StockNews.com downgraded Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.60.

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.