Oxbow Advisors LLC Has $6.41 Million Position 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 2nd quarter, Holdings Channel reports. The institutional investor owned 329,794 shares of the pipeline company’s stock after acquiring an additional 3,205 shares during the quarter. Oxbow Advisors LLC’s holdings in Plains GP were worth $6,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new position in Plains GP during the 2nd quarter worth $51,000. CWM LLC raised its stake in Plains GP by 394.5% during the second quarter. CWM LLC now owns 2,883 shares of the pipeline company’s stock worth $56,000 after buying an additional 2,300 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in Plains GP by 233.1% in the first quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company’s stock valued at $128,000 after buying an additional 4,195 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Plains GP during the first quarter valued at $135,000. Finally, State of Wyoming grew its holdings in Plains GP by 192.3% during the 1st quarter. State of Wyoming now owns 8,311 shares of the pipeline company’s stock worth $178,000 after acquiring an additional 5,468 shares during the period. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Plains GP Stock Down 1.2%

Plains GP stock opened at $16.94 on Friday. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 31.96 and a beta of 0.68. The firm’s fifty day moving average price is $18.46 and its two-hundred day moving average price is $18.74. Plains GP Holdings, L.P. has a 1-year low of $16.60 and a 1-year 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.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued 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 of this dividend is Friday, October 31st. Plains GP’s payout ratio is currently 220.29%.

About Plains GP

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.