Corient Private Wealth LLC Has $4.31 Million Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Corient Private Wealth LLC raised its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 0.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 234,250 shares of the pipeline company’s stock after acquiring an additional 1,622 shares during the period. Corient Private Wealth LLC’s holdings in Plains GP were worth $4,306,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Chickasaw Capital Management LLC grew its stake in Plains GP by 24.7% in the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock valued at $151,047,000 after acquiring an additional 1,629,008 shares during the period. Miller Howard Investments Inc. NY boosted its position in shares of Plains GP by 2.3% during the fourth quarter. Miller Howard Investments Inc. NY now owns 1,535,470 shares of the pipeline company’s stock valued at $28,222,000 after buying an additional 34,894 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Plains GP by 8.5% during the third quarter. BNP Paribas Financial Markets now owns 1,313,974 shares of the pipeline company’s stock valued at $24,309,000 after buying an additional 103,353 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in shares of Plains GP by 11.6% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 835,254 shares of the pipeline company’s stock valued at $15,352,000 after buying an additional 86,714 shares during the last quarter. Finally, Catalyst Capital Advisors LLC boosted its position in shares of Plains GP by 2.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 750,930 shares of the pipeline company’s stock valued at $13,802,000 after buying an additional 18,595 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. StockNews.com cut Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Raymond James boosted their price objective on 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 boosted their price objective on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Finally, Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.60.

Plains GP Stock Performance

Shares of PAGP opened at $21.34 on Friday. The firm has a market cap of $4.22 billion, a PE ratio of 40.26 and a beta of 1.55. The stock’s fifty day moving average price is $21.23 and its two-hundred day moving average price is $19.56. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP Holdings, L.P. has a 1 year low of $17.17 and a 1 year high of $22.31.

Plains GP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.12%. Plains GP’s payout ratio is presently 286.79%.

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.