Cresset Asset Management LLC Buys 45,034 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Cresset Asset Management LLC lifted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 62.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,858 shares of the pipeline company's stock after purchasing an additional 45,034 shares during the period. Cresset Asset Management LLC owned 0.06% of Plains GP worth $2,148,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PAGP. Cetera Investment Advisers lifted its position in Plains GP by 1.4% during the 4th quarter. Cetera Investment Advisers now owns 181,299 shares of the pipeline company's stock worth $3,332,000 after acquiring an additional 2,549 shares during the last quarter. BROOKFIELD Corp ON lifted its position in Plains GP by 2.7% during the 4th quarter. BROOKFIELD Corp ON now owns 68,244 shares of the pipeline company's stock worth $1,254,000 after acquiring an additional 1,770 shares during the last quarter. Bridgefront Capital LLC acquired a new position in Plains GP during the 4th quarter worth $252,000. BNP Paribas Financial Markets lifted its position in Plains GP by 2.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,340,765 shares of the pipeline company's stock worth $24,643,000 after acquiring an additional 26,791 shares during the last quarter. Finally, Algert Global LLC lifted its position in Plains GP by 781.8% during the 4th quarter. Algert Global LLC now owns 772,966 shares of the pipeline company's stock worth $14,207,000 after acquiring an additional 685,307 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays cut their target price on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. Raymond James boosted their price objective on shares of Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 28th. Morgan Stanley increased their target price on shares of Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 25th. StockNews.com lowered Plains GP from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Finally, Citigroup lowered their price target on Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $20.83.

Plains GP Price Performance

Shares of PAGP stock traded down $0.22 during trading hours on Thursday, hitting $18.42. The company had a trading volume of 499,834 shares, compared to its average volume of 1,535,490. Plains GP Holdings, L.P. has a 12 month low of $16.61 and a 12 month high of $22.31. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 34.71 and a beta of 0.68. The firm's fifty day moving average is $19.46 and its 200 day moving average is $19.67. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a $0.38 dividend. The ex-dividend date is Thursday, May 1st. This represents a $1.52 annualized dividend and a dividend yield of 8.25%. Plains GP's dividend payout ratio is currently 205.41%.

Plains GP 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.