BNP Paribas Financial Markets Increases Position in Plains GP Holdings, L.P. (NYSE:PAGP)

BNP Paribas Financial Markets increased its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,340,765 shares of the pipeline company's stock after buying an additional 26,791 shares during the quarter. BNP Paribas Financial Markets owned 0.68% of Plains GP worth $24,643,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. lifted its position in shares of Plains GP by 8.0% in the fourth 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 acquiring an additional 927,855 shares in the last quarter. Algert Global LLC grew its holdings in Plains GP by 781.8% during the 4th quarter. Algert Global LLC now owns 772,966 shares of the pipeline company's stock valued at $14,207,000 after buying an additional 685,307 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Plains GP by 11.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company's stock valued at $113,077,000 after buying an additional 646,130 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Plains GP by 31.0% during the 4th quarter. Hsbc Holdings PLC now owns 2,036,816 shares of the pipeline company's stock valued at $37,436,000 after buying an additional 482,213 shares in the last quarter. Finally, Voleon Capital Management LP purchased a new stake in Plains GP during the 4th quarter valued at approximately $7,418,000. Institutional investors own 88.30% of the company's stock.

Wall Street Analysts Forecast Growth

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

Plains GP Trading Down 1.4%

NYSE PAGP traded down $0.26 during trading hours on Thursday, hitting $18.38. 477,656 shares of the company were exchanged, compared to its average volume of 1,535,366. The stock has a 50-day moving average price of $19.46 and a 200 day moving average price of $19.67. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 52 week low of $16.61 and a 52 week high of $22.31. The stock has a market cap of $3.63 billion, a PE ratio of 34.63 and a beta of 0.68.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 8.27%. Plains GP's dividend payout ratio is presently 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.