Brown Brothers Harriman & Co. Purchases New Shares in Plains GP Holdings, L.P. (NYSE:PAGP)

Brown Brothers Harriman & Co. bought a new stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,613 shares of the pipeline company’s stock, valued at approximately $158,000.

A number of other hedge funds have also bought and sold shares of the company. Chickasaw Capital Management LLC lifted its position in shares of Plains GP by 24.7% during the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock worth $151,047,000 after purchasing an additional 1,629,008 shares during the last quarter. Yaupon Capital Management LP purchased a new stake in shares of Plains GP during the 3rd quarter worth $9,772,000. Vanguard Group Inc. lifted its position in shares of Plains GP by 10.0% during the fourth quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company’s stock valued at $58,213,000 after buying an additional 288,430 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Plains GP in the fourth quarter worth $5,214,000. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in shares of Plains GP by 114.8% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 370,496 shares of the pipeline company’s stock worth $6,810,000 after purchasing an additional 198,000 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

Plains GP Stock Up 0.5 %

PAGP stock opened at $21.47 on Wednesday. Plains GP Holdings, L.P. has a one year low of $17.17 and a one year high of $22.31. The firm’s 50 day moving average price is $21.28 and its 200-day moving average price is $19.72. The firm has a market cap of $4.25 billion, a PE ratio of 40.51 and a beta of 1.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Plains GP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.38 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.08%. This is a boost from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s dividend payout ratio is presently 286.79%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PAGP. Barclays raised their price target on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Wells Fargo & Company cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a research note on Wednesday. Wolfe Research raised 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 report on Friday, January 10th. Finally, Morgan Stanley lifted their price target on Plains GP from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Plains GP presently has an average rating of “Hold” and an average price target of $21.00.

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.