Evergreen Capital Management LLC Trims Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Evergreen Capital Management LLC lowered its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,004,946 shares of the pipeline company’s stock after selling 4,837 shares during the period. Evergreen Capital Management LLC owned 0.51% of Plains GP worth $18,471,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. XTX Topco Ltd increased its holdings in Plains GP by 137.0% during the 4th quarter. XTX Topco Ltd now owns 34,058 shares of the pipeline company’s stock worth $626,000 after acquiring an additional 19,688 shares during the period. Barclays PLC increased its holdings in shares of Plains GP by 7.9% in the fourth quarter. Barclays PLC now owns 890,577 shares of the pipeline company’s stock worth $16,370,000 after purchasing an additional 65,080 shares during the period. Advisors Capital Management LLC raised its position in shares of Plains GP by 2.3% in the fourth quarter. Advisors Capital Management LLC now owns 2,403,410 shares of the pipeline company’s stock worth $44,175,000 after buying an additional 53,273 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Plains GP during the fourth quarter valued at $5,214,000. Finally, ELCO Management Co. LLC grew its position in Plains GP by 2.4% during the fourth quarter. ELCO Management Co. LLC now owns 33,954 shares of the pipeline company’s stock worth $624,000 after buying an additional 802 shares in the last quarter. 88.30% of the stock is owned by institutional investors.

Plains GP Stock Performance

Plains GP stock opened at $18.63 on Wednesday. The firm has a fifty day simple moving average of $20.55 and a two-hundred day simple moving average of $19.67. Plains GP Holdings, L.P. has a twelve month low of $16.61 and a twelve month high of $22.31. The company has a market capitalization of $3.68 billion, a PE ratio of 35.15 and a beta of 1.11. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, May 1st. This represents a $1.52 annualized dividend and a yield of 8.16%. Plains GP’s payout ratio is 286.79%.

Wall Street Analyst Weigh In

Several analysts have weighed in on PAGP shares. Morgan Stanley raised their price target on Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, March 25th. Raymond James lifted their target price on shares of Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Friday, January 10th. Barclays dropped their price objective on shares of Plains GP from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Thursday, April 10th. Finally, Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.00.

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.