CWA Asset Management Group LLC Has $2.99 Million Position in Plains GP Holdings, L.P. $PAGP

CWA Asset Management Group LLC lifted its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 19.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,306 shares of the pipeline company’s stock after purchasing an additional 25,321 shares during the quarter. CWA Asset Management Group LLC owned 0.08% of Plains GP worth $2,992,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PAGP. Caprock Group LLC bought a new stake in shares of Plains GP during the third quarter worth $3,088,000. Chickasaw Capital Management LLC lifted its stake in shares of Plains GP by 5.9% in the 3rd quarter. Chickasaw Capital Management LLC now owns 8,832,780 shares of the pipeline company’s stock valued at $161,110,000 after acquiring an additional 494,259 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Plains GP by 75.3% during the 2nd quarter. Osaic Holdings Inc. now owns 291,320 shares of the pipeline company’s stock valued at $5,661,000 after acquiring an additional 125,169 shares in the last quarter. Turtle Creek Wealth Advisors LLC boosted its holdings in shares of Plains GP by 16.8% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 800,863 shares of the pipeline company’s stock valued at $14,608,000 after acquiring an additional 115,020 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in Plains GP by 3.4% during the 2nd quarter. Hsbc Holdings PLC now owns 2,649,726 shares of the pipeline company’s stock worth $51,483,000 after acquiring an additional 86,695 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Price Performance

Shares of PAGP opened at $23.67 on Friday. The business has a 50-day moving average of $21.75 and a 200-day moving average of $19.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 44.66 and a beta of 0.56. Plains GP Holdings, L.P. has a 1 year low of $16.60 and a 1 year high of $24.04.

Plains GP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a $0.4175 dividend. The ex-dividend date was Friday, January 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.1%. Plains GP’s payout ratio is 129.46%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley upped their target price on Plains GP from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday. Stifel Nicolaus boosted their price target on Plains GP from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Citigroup upped their price objective on Plains GP from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Barclays lifted their target price on shares of Plains GP from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, February 9th. Finally, Bank of America lowered shares of Plains GP from a “neutral” rating to an “underperform” rating and set a $19.00 price target on the stock. in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.44.

Plains GP Profile

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.