Hara Capital LLC Reduces Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Hara Capital LLC trimmed its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 48.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,600 shares of the pipeline company’s stock after selling 1,500 shares during the quarter. Hara Capital LLC’s holdings in Plains GP were worth $29,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Chickasaw Capital Management LLC grew its holdings in Plains GP by 24.7% in the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock valued at $151,047,000 after buying an additional 1,629,008 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Plains GP by 1.2% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock valued at $80,900,000 after buying an additional 53,000 shares in the last quarter. Miller Howard Investments Inc. NY grew its holdings in Plains GP by 2.3% in the 4th quarter. Miller Howard Investments Inc. NY now owns 1,535,470 shares of the pipeline company’s stock valued at $28,222,000 after buying an additional 34,894 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Plains GP by 8.5% in the 3rd 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, Catalyst Capital Advisors LLC grew its holdings in Plains GP by 2.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 750,930 shares of the pipeline company’s stock valued at $13,802,000 after buying an additional 18,595 shares in the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Plains GP Price Performance

PAGP opened at $21.10 on Tuesday. The stock’s 50-day moving average price is $20.03 and its 200 day moving average price is $19.14. Plains GP Holdings, L.P. has a 12-month low of $16.36 and a 12-month high of $22.31. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 24.85 and a beta of 1.58.

Plains GP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.38 per share. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.20%. Plains GP’s dividend payout ratio is presently 178.82%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PAGP shares. Raymond James upped their target price on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Barclays upped 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. StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Finally, Wolfe Research raised 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.