Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC cut its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 26.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 940,002 shares of the pipeline company’s stock after selling 344,055 shares during the quarter. Cbre Investment Management Listed Real Assets LLC’s holdings in Plains GP were worth $17,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in PAGP. Wealth Enhancement Advisory Services LLC grew its position in shares of Plains GP by 1.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 717 shares during the last quarter. US Bancorp DE increased its position in shares of Plains GP by 4.8% in the third quarter. US Bancorp DE now owns 86,265 shares of the pipeline company’s stock worth $1,596,000 after acquiring an additional 3,927 shares in the last quarter. Catalyst Capital Advisors LLC grew its holdings in Plains GP by 10.0% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 732,335 shares of the pipeline company’s stock valued at $13,548,000 after purchasing an additional 66,690 shares in the last quarter. HF Advisory Group LLC grew its holdings in Plains GP by 2.8% during the 3rd quarter. HF Advisory Group LLC now owns 105,367 shares of the pipeline company’s stock valued at $1,949,000 after purchasing an additional 2,906 shares in the last quarter. Finally, Hara Capital LLC acquired a new position in Plains GP during the 3rd quarter worth $57,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Plains GP Price Performance

Shares of PAGP stock opened at $20.60 on Wednesday. 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 Holdings, L.P. has a fifty-two week low of $17.17 and a fifty-two week high of $22.31. The firm has a market cap of $4.07 billion, a P/E ratio of 38.87 and a beta of 1.58. The business’s 50 day moving average price is $20.66 and its 200-day moving average price is $19.39.

Plains GP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.38 dividend. This is a boost from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.38%. Plains GP’s dividend 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.