Plains GP Holdings, L.P. $PAGP Shares Sold by Eagle Global Advisors LLC

Eagle Global Advisors LLC reduced its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,124,930 shares of the pipeline company’s stock after selling 43,570 shares during the period. Eagle Global Advisors LLC owned 0.57% of Plains GP worth $21,531,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Caprock Group LLC purchased a new stake in shares of Plains GP during the 3rd quarter valued at approximately $3,088,000. CWA Asset Management Group LLC raised its position in shares of Plains GP by 19.3% during the 4th quarter. CWA Asset Management Group LLC now owns 156,306 shares of the pipeline company’s stock valued at $2,992,000 after buying an additional 25,321 shares during the period. Osaic Holdings Inc. raised its position 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 buying an additional 125,169 shares during the period. Turtle Creek Wealth Advisors LLC raised its position 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 buying an additional 115,020 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Plains GP by 1.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,585,000 shares of the pipeline company’s stock valued at $65,390,000 after buying an additional 42,000 shares during the period. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on PAGP shares. Mizuho set a $23.00 price target on shares of Plains GP in a research report on Friday, January 23rd. 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 research report on Wednesday, January 28th. Truist Financial started coverage on shares of Plains GP in a research report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Plains GP from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Finally, Citigroup lifted their price target on shares of Plains GP from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Plains GP has a consensus rating of “Hold” and an average price target of $21.90.

Plains GP Stock Up 0.7%

Shares of NYSE PAGP opened at $22.84 on Wednesday. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 43.10 and a beta of 0.50. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 52-week low of $16.68 and a 52-week high of $24.75. The business’s 50 day moving average is $23.14 and its two-hundred day moving average is $20.29.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be given a $0.4175 dividend. The ex-dividend date of this dividend is Friday, May 1st. This represents a $1.67 dividend on an annualized basis and a yield of 7.3%. Plains GP’s payout ratio is presently 129.46%.

Plains GP Company 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.