Oxbow Advisors LLC Purchases 27,106 Shares of Plains GP Holdings, L.P. $PAGP

Oxbow Advisors LLC lifted its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 8.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 358,030 shares of the pipeline company’s stock after acquiring an additional 27,106 shares during the quarter. Oxbow Advisors LLC’s holdings in Plains GP were worth $6,853,000 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 company. MGO One Seven LLC grew its holdings in Plains GP by 14.6% during the 4th quarter. MGO One Seven LLC now owns 23,580 shares of the pipeline company’s stock valued at $451,000 after purchasing an additional 3,012 shares during the last quarter. Navellier & Associates Inc. boosted its position in shares of Plains GP by 14.0% during the fourth quarter. Navellier & Associates Inc. now owns 16,275 shares of the pipeline company’s stock valued at $312,000 after buying an additional 2,000 shares during the period. Truist Financial Corp boosted its position in shares of Plains GP by 3.7% during the fourth quarter. Truist Financial Corp now owns 52,679 shares of the pipeline company’s stock valued at $1,008,000 after buying an additional 1,891 shares during the period. Amplify Investments LLC grew its stake in shares of Plains GP by 21.4% during the fourth quarter. Amplify Investments LLC now owns 9,911 shares of the pipeline company’s stock valued at $174,000 after buying an additional 1,749 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Plains GP by 3.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 26,290 shares of the pipeline company’s stock valued at $503,000 after buying an additional 961 shares during the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Stock Down 1.9%

Shares of NYSE PAGP opened at $23.19 on Friday. Plains GP Holdings, L.P. has a 52-week low of $16.68 and a 52-week high of $24.75. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 43.76 and a beta of 0.46. The stock has a 50 day moving average price of $23.51 and a 200 day moving average price of $20.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 7.2%. The ex-dividend date is Friday, May 1st. Plains GP’s dividend payout ratio is currently 172.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PAGP shares. Stifel Nicolaus boosted their price objective on Plains GP from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, March 6th. Wells Fargo & Company increased their target price on Plains GP from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. Truist Financial initiated coverage on Plains GP in a research report on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price for the company. Citigroup upped their price target on shares of Plains GP from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Finally, Barclays raised their price target on shares of Plains GP from $18.00 to $21.00 and gave the stock an “underweight” rating in a research note on Friday, April 10th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Plains GP currently has an average rating of “Hold” and an average price target of $21.90.

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.