Oxbow Advisors LLC Has $6.41 Million Stake in Plains GP Holdings, L.P. $PAGP

Oxbow Advisors LLC increased its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 329,794 shares of the pipeline company’s stock after acquiring an additional 3,205 shares during the quarter. Oxbow Advisors LLC owned about 0.17% of Plains GP worth $6,408,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Energy Income Partners LLC increased its holdings in shares of Plains GP by 2.0% in the first quarter. Energy Income Partners LLC now owns 10,177,085 shares of the pipeline company’s stock valued at $217,383,000 after purchasing an additional 203,638 shares during the last quarter. Chickasaw Capital Management LLC grew its stake in Plains GP by 2.0% in the 2nd quarter. Chickasaw Capital Management LLC now owns 8,338,521 shares of the pipeline company’s stock valued at $162,017,000 after buying an additional 167,061 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Plains GP by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,220,898 shares of the pipeline company’s stock valued at $111,518,000 after acquiring an additional 29,911 shares during the period. Invesco Ltd. lifted its position in Plains GP by 42.9% during the first quarter. Invesco Ltd. now owns 4,190,610 shares of the pipeline company’s stock worth $89,511,000 after acquiring an additional 1,258,315 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Plains GP by 2.0% during the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,033,000 shares of the pipeline company’s stock worth $86,145,000 after acquiring an additional 80,000 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Down 1.2%

Shares of PAGP opened at $16.94 on Friday. 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 $16.60 and a one year high of $22.31. The company has a market cap of $3.35 billion, a P/E ratio of 31.96 and a beta of 0.68. The firm has a 50 day simple moving average of $18.46 and a two-hundred day simple moving average of $18.74.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 9.0%. The ex-dividend date is Friday, October 31st. Plains GP’s dividend payout ratio is currently 220.29%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PAGP. Zacks Research cut Plains GP from a “hold” rating to a “strong sell” rating in a report on Tuesday. Barclays reduced their target price on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, October 7th. Wolfe Research reiterated a “peer perform” rating on shares of Plains GP in a research note on Friday, July 25th. JPMorgan Chase & Co. decreased their target price on shares of Plains GP from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, September 18th. Finally, Morgan Stanley dropped their price target on shares of Plains GP from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Plains GP presently has a consensus rating of “Hold” and a consensus target price of $20.38.

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.