NBW Capital LLC Lowers Position in Plains GP Holdings, L.P. (NYSE:PAGP)

NBW Capital LLC lessened its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 4.3% in the fourth quarter, HoldingsChannel reports. The firm owned 272,562 shares of the pipeline company’s stock after selling 12,135 shares during the quarter. NBW Capital LLC’s holdings in Plains GP were worth $5,010,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PAGP. Jones Financial Companies Lllp raised its stake in Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock valued at $25,000 after buying an additional 520 shares during the last quarter. US Bancorp DE raised its stake in Plains GP by 0.7% during the fourth quarter. US Bancorp DE now owns 86,863 shares of the pipeline company’s stock valued at $1,597,000 after buying an additional 598 shares during the last quarter. Continuum Advisory LLC raised its stake in Plains GP by 10.0% during the third quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after buying an additional 637 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Plains GP by 1.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock valued at $720,000 after buying an additional 717 shares during the last quarter. Finally, Townsquare Capital LLC raised its stake in Plains GP by 1.2% during 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 during the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Stock Performance

Shares of PAGP opened at $21.30 on Tuesday. 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 Holdings, L.P. has a one year low of $17.17 and a one year high of $22.31. The firm has a market capitalization of $4.21 billion, a P/E ratio of 40.19 and a beta of 1.58. The business has a fifty day moving average of $20.62 and a 200 day moving average of $19.37.

Plains GP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.52 annualized dividend and a dividend yield of 7.14%. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s payout ratio is presently 286.79%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PAGP shares. Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Barclays lifted their target price on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Friday, January 10th. StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Raymond James lifted their target price on Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently 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.