Cutter & CO Brokerage Inc. Has $1.62 Million Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Cutter & CO Brokerage Inc. lowered its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 3.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 101,381 shares of the pipeline company’s stock after selling 3,335 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Plains GP were worth $1,617,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. NBW Capital LLC grew its stake in Plains GP by 1.5% during the fourth quarter. NBW Capital LLC now owns 311,500 shares of the pipeline company’s stock worth $4,968,000 after buying an additional 4,497 shares during the last quarter. HF Advisory Group LLC grew its stake in Plains GP by 257.9% during the fourth quarter. HF Advisory Group LLC now owns 97,887 shares of the pipeline company’s stock worth $1,561,000 after buying an additional 70,540 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Plains GP by 5.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,377 shares of the pipeline company’s stock worth $756,000 after buying an additional 2,410 shares during the last quarter. Harbour Trust & Investment Management Co bought a new stake in shares of Plains GP during the fourth quarter valued at approximately $245,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Plains GP during the fourth quarter valued at approximately $406,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analyst Ratings Changes

PAGP has been the topic of several research analyst reports. The Goldman Sachs Group increased their price target on shares of Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Barclays increased their price target on shares of Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Monday, March 4th. Stifel Nicolaus increased their price target on shares of Plains GP from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, UBS Group increased their price target on shares of Plains GP from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.55.

Plains GP Stock Up 0.9 %

Shares of NYSE:PAGP traded up $0.17 during midday trading on Tuesday, reaching $18.86. 2,121,159 shares of the company were exchanged, compared to its average volume of 2,236,509. Plains GP Holdings, L.P. has a fifty-two week low of $12.59 and a fifty-two week high of $19.77. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $17.82 and a two-hundred day simple moving average of $16.64. The firm has a market cap of $3.72 billion, a PE ratio of 18.32 and a beta of 1.55.

Plains GP (NYSE:PAGP) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). Plains GP had a return on equity of 1.33% and a net margin of 0.41%. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.88 billion. As a group, sell-side analysts forecast that Plains GP Holdings, L.P. will post 1.04 earnings per share for the current year.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.73%. Plains GP’s payout ratio is 124.51%.

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.