First Trust Advisors LP Has $5.05 Million Position in Plains GP Holdings, L.P. (NYSE:PAGP)

First Trust Advisors LP raised its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 17.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 274,522 shares of the pipeline company's stock after buying an additional 41,704 shares during the quarter. First Trust Advisors LP owned about 0.14% of Plains GP worth $5,046,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Chickasaw Capital Management LLC lifted its holdings in shares of Plains GP by 24.7% during the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company's stock valued at $151,047,000 after purchasing an additional 1,629,008 shares during the last quarter. Clearbridge Investments LLC lifted its stake 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 worth $113,077,000 after acquiring an additional 646,130 shares in the last quarter. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 288,430 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Plains GP in the fourth quarter valued at approximately $5,214,000. Finally, Fort Washington Investment Advisors Inc. OH grew its position in shares of Plains GP by 114.8% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 370,496 shares of the pipeline company's stock worth $6,810,000 after acquiring an additional 198,000 shares during the last quarter. Institutional investors own 88.30% of the company's stock.

Wall Street Analysts Forecast Growth

PAGP has been the subject of a number of research reports. Raymond James lifted 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. Barclays decreased their price objective on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research note on Thursday, April 10th. Wolfe Research upgraded shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research note on Friday, January 10th. StockNews.com lowered Plains GP from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Finally, Morgan Stanley upped 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $21.40.

Plains GP Stock Up 4.2 %

PAGP stock traded up $0.72 during trading hours on Wednesday, hitting $18.01. The company's stock had a trading volume of 2,414,767 shares, compared to its average volume of 1,545,114. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $3.56 billion, a PE ratio of 33.98 and a beta of 0.68. The stock has a 50 day moving average price of $19.69 and a two-hundred day moving average price of $19.66. Plains GP Holdings, L.P. has a 12 month low of $16.61 and a 12 month high of $22.31.

Plains GP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 dividend on an annualized basis and a yield of 8.44%. Plains GP's payout ratio is currently 286.79%.

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.