Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC cut its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,171,460 shares of the pipeline company's stock after selling 46,570 shares during the quarter. Plains GP makes up 6.7% of Chickasaw Capital Management LLC's investment portfolio, making the stock its 9th biggest holding. Chickasaw Capital Management LLC owned about 4.13% of Plains GP worth $174,542,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PAGP. Jones Financial Companies Lllp boosted its position in shares of Plains GP by 61.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock valued at $25,000 after purchasing an additional 520 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Plains GP in the 4th quarter valued at about $33,000. Allworth Financial LP acquired a new stake in shares of Plains GP in the 4th quarter valued at about $44,000. Farther Finance Advisors LLC boosted its position in shares of Plains GP by 8,120.7% in the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock valued at $44,000 after purchasing an additional 2,355 shares during the period. Finally, Mark Sheptoff Financial Planning LLC boosted its position in shares of Plains GP by 1,000.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company's stock valued at $81,000 after purchasing an additional 4,000 shares during the period. 88.30% of the stock is owned by institutional investors and hedge funds.

Plains GP Stock Performance

Plains GP stock traded up $0.31 during mid-day trading on Friday, reaching $18.57. 1,562,461 shares of the company were exchanged, compared to its average volume of 1,547,848. 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 firm's 50-day simple moving average is $18.35 and its two-hundred day simple moving average is $19.67. The firm has a market cap of $3.67 billion, a PE ratio of 35.04 and a beta of 0.63. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were issued 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 8.19%. Plains GP's dividend payout ratio is currently 205.41%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PAGP. Wall Street Zen raised Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Mizuho decreased their price objective on Plains GP from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Tuesday, May 20th. Citigroup decreased their price objective on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Barclays decreased their price objective on Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley increased their price objective on Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.71.

About Plains GP

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.