Acadian Asset Management LLC grew its stake in Plains GP Holdings LP (NYSE:PAGP) by 436.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,602 shares of the pipeline company’s stock after purchasing an additional 18,387 shares during the period. Acadian Asset Management LLC’s holdings in Plains GP were worth $496,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in PAGP. Canyon Capital Advisors LLC purchased a new position in shares of Plains GP during the 2nd quarter valued at approximately $35,731,000. Marathon Asset Management LP acquired a new position in Plains GP in the 3rd quarter valued at $25,254,000. Atlantic Trust Group LLC raised its stake in Plains GP by 32.0% in the 3rd quarter. Atlantic Trust Group LLC now owns 2,935,457 shares of the pipeline company’s stock valued at $64,199,000 after purchasing an additional 711,518 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in Plains GP by 9.4% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 7,636,798 shares of the pipeline company’s stock valued at $167,017,000 after purchasing an additional 653,301 shares during the last quarter. Finally, Koch Industries Inc. acquired a new position in Plains GP in the 2nd quarter valued at $285,000. Institutional investors and hedge funds own 83.18% of the company’s stock.
Plains GP Holdings LP (NYSE PAGP) traded up $0.07 during trading hours on Friday, hitting $21.31. The stock had a trading volume of 4,302,477 shares, compared to its average volume of 1,974,995. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.78 and a current ratio of 1.00. Plains GP Holdings LP has a 1-year low of $18.98 and a 1-year high of $33.66. The firm has a market capitalization of $3,299.70, a price-to-earnings ratio of -4.60 and a beta of 1.39.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.63%. Plains GP’s dividend payout ratio (DPR) is presently -25.92%.
A number of analysts have issued reports on the company. ValuEngine downgraded Plains GP from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Barclays downgraded Plains GP from an “overweight” rating to an “equal weight” rating and set a $26.00 price objective for the company. in a research report on Wednesday, January 17th. SunTrust Banks set a $24.00 target price on Plains GP and gave the company a “hold” rating in a report on Thursday, November 16th. Zacks Investment Research cut Plains GP from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, Credit Suisse Group started coverage on Plains GP in a report on Thursday, January 4th. They set an “outperform” rating and a $25.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.88.
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Plains GP Company Profile
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.
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