Oxbow Advisors LLC Boosts Stake in Plains GP Holdings, L.P. $PAGP

Oxbow Advisors LLC increased its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 9.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 390,960 shares of the pipeline company’s stock after buying an additional 32,930 shares during the quarter. Plains GP comprises approximately 0.8% of Oxbow Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. Oxbow Advisors LLC owned 0.20% of Plains GP worth $9,492,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PAGP. Larson Financial Group LLC acquired a new stake in shares of Plains GP during the 3rd quarter worth approximately $46,000. North Star Investment Management Corp. acquired a new position in shares of Plains GP in the 1st quarter valued at $56,000. Lazard Asset Management LLC lifted its stake in shares of Plains GP by 36.5% in the 2nd quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock valued at $58,000 after purchasing an additional 811 shares during the period. Virtus Advisers LLC boosted its holdings in Plains GP by 46.5% during the fourth quarter. Virtus Advisers LLC now owns 5,859 shares of the pipeline company’s stock worth $112,000 after buying an additional 1,859 shares in the last quarter. Finally, Arax Advisory Partners grew its position in Plains GP by 31.4% during the fourth quarter. Arax Advisory Partners now owns 7,141 shares of the pipeline company’s stock valued at $137,000 after buying an additional 1,707 shares during the period. 88.30% of the stock is owned by institutional investors and hedge funds.

Plains GP Price Performance

Shares of NYSE PAGP opened at $24.43 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a fifty day moving average of $24.22 and a 200 day moving average of $22.55. The firm has a market cap of $4.83 billion, a PE ratio of 46.10 and a beta of 0.45. Plains GP Holdings, L.P. has a one year low of $16.68 and a one year high of $26.15.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 6.8%. The ex-dividend date was Friday, May 1st. Plains GP’s dividend payout ratio is 172.16%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PAGP. Wells Fargo & Company lifted their price objective on shares of Plains GP from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Zacks Research cut Plains GP from a “hold” rating to a “strong sell” rating in a research report on Monday, June 22nd. US Capital Advisors lowered Plains GP from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. Barclays upped their price target on Plains GP from $18.00 to $21.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. Finally, Morgan Stanley increased their price target on Plains GP from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Plains GP currently has an average rating of “Hold” and an average target price of $23.00.

About Plains GP

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.