Northern Trust Corp Raises Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Northern Trust Corp increased its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 27.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,964 shares of the pipeline company's stock after purchasing an additional 17,333 shares during the quarter. Northern Trust Corp's holdings in Plains GP were worth $1,488,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in PAGP. Custom Index Systems LLC acquired a new stake in shares of Plains GP in the fourth quarter valued at approximately $265,000. Plato Investment Management Ltd increased its holdings in shares of Plains GP by 144.2% in the fourth quarter. Plato Investment Management Ltd now owns 35,812 shares of the pipeline company's stock valued at $661,000 after purchasing an additional 21,146 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Plains GP in the fourth quarter valued at approximately $380,000. Leisure Capital Management acquired a new stake in shares of Plains GP in the fourth quarter valued at approximately $931,000. Finally, Bank of Montreal Can increased its holdings in shares of Plains GP by 36.4% in the fourth quarter. Bank of Montreal Can now owns 43,284 shares of the pipeline company's stock valued at $796,000 after purchasing an additional 11,541 shares during the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PAGP has been the subject of several recent research reports. Morgan Stanley increased 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. Barclays cut their target price on Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research note on Thursday, April 10th. Wall Street Zen raised Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Citigroup cut their target price on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Mizuho cut their target price on Plains GP from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.71.

Plains GP Trading Down 0.2%

Shares of NYSE PAGP traded down $0.03 during trading on Friday, reaching $17.63. The stock had a trading volume of 1,743,887 shares, compared to its average volume of 1,532,863. Plains GP Holdings, L.P. has a fifty-two week low of $16.61 and a fifty-two week high of $22.31. 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 business's 50-day moving average price is $18.68 and its 200-day moving average price is $19.69. The company has a market cap of $3.49 billion, a P/E ratio of 33.26 and a beta of 0.68.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.62%. The ex-dividend date of this dividend was Thursday, May 1st. Plains GP's dividend payout ratio is presently 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.