CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $86.15 Million Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,033,000 shares of the pipeline company's stock after purchasing an additional 80,000 shares during the period. Plains GP accounts for 5.3% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 6th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 2.04% of Plains GP worth $86,145,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PAGP. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Plains GP by 8.0% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company's stock valued at $229,989,000 after buying an additional 927,855 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Plains GP by 11.7% in the 4th quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company's stock valued at $113,077,000 after acquiring an additional 646,130 shares in the last quarter. Two Sigma Advisers LP boosted its position in Plains GP by 0.5% during the fourth quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company's stock worth $73,610,000 after purchasing an additional 19,900 shares during the period. Vanguard Group Inc. raised its position in shares of Plains GP by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company's stock valued at $58,213,000 after purchasing an additional 288,430 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Plains GP by 0.9% in the fourth quarter. Invesco Ltd. now owns 2,932,295 shares of the pipeline company's stock worth $53,896,000 after buying an additional 27,148 shares during the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Barclays lowered their price objective on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. Citigroup reduced their price target on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. 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. Finally, JPMorgan Chase & Co. lifted their price objective on Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $20.88.

Plains GP Price Performance

PAGP traded down $0.02 during midday trading on Friday, hitting $19.37. The company had a trading volume of 1,512,232 shares, compared to its average volume of 1,602,977. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The company has a market capitalization of $3.83 billion, a PE ratio of 36.55 and a beta of 0.63. The firm's 50-day simple moving average is $18.53 and its 200-day simple moving average is $19.64. Plains GP Holdings, L.P. has a twelve month low of $16.61 and a twelve month high of $22.31.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 annualized dividend and a dividend yield of 7.85%. Plains GP's dividend payout ratio (DPR) is currently 205.41%.

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.