Oxbow Advisors LLC Buys 40,022 Shares of Plains GP Holdings LP (NYSE:PAGP)

Oxbow Advisors LLC grew its stake in Plains GP Holdings LP (NYSE:PAGP) by 13.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 340,688 shares of the pipeline company’s stock after purchasing an additional 40,022 shares during the quarter. Oxbow Advisors LLC owned approximately 0.19% of Plains GP worth $6,456,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PAGP. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Plains GP by 5.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 163,926 shares of the pipeline company’s stock valued at $4,085,000 after purchasing an additional 8,694 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Plains GP by 236.0% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,741 shares of the pipeline company’s stock worth $119,000 after acquiring an additional 3,330 shares during the period. Atria Investments LLC bought a new stake in Plains GP during the second quarter worth $211,000. Cerebellum GP LLC bought a new stake in Plains GP during the third quarter worth $72,000. Finally, Duff & Phelps Investment Management Co. lifted its holdings in Plains GP by 204.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 76,217 shares of the pipeline company’s stock worth $1,618,000 after acquiring an additional 51,193 shares during the period. Institutional investors own 85.89% of the company’s stock.

Plains GP stock traded up $0.35 during mid-day trading on Friday, reaching $16.98. 2,247,047 shares of the company’s stock were exchanged, compared to its average volume of 2,690,894. The business’s fifty day simple moving average is $18.28 and its 200 day simple moving average is $19.79. The firm has a market capitalization of $3.04 billion, a PE ratio of 8.53 and a beta of 1.24. Plains GP Holdings LP has a one year low of $15.79 and a one year high of $25.82. The company has a quick ratio of 0.79, a current ratio of 0.96 and a debt-to-equity ratio of 0.66.

Plains GP (NYSE:PAGP) last released its earnings results on Tuesday, February 4th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.30). Plains GP had a return on equity of 2.32% and a net margin of 0.98%. The firm had revenue of $9.15 billion during the quarter, compared to analysts’ expectations of $7.59 billion. During the same period in the prior year, the business earned $1.12 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts forecast that Plains GP Holdings LP will post 1.84 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 8.48%. The ex-dividend date is Thursday, January 30th. Plains GP’s dividend payout ratio is currently 73.47%.

In other news, CEO Willie Cw Chiang bought 60,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $17.14 per share, with a total value of $1,028,400.00. Following the completion of the transaction, the chief executive officer now directly owns 135,104 shares of the company’s stock, valued at approximately $2,315,682.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Everardo Goyanes bought 20,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was purchased at an average cost of $17.91 per share, with a total value of $358,200.00. Following the completion of the transaction, the director now directly owns 57,305 shares of the company’s stock, valued at $1,026,332.55. The disclosure for this purchase can be found here. Company insiders own 16.31% of the company’s stock.

A number of analysts recently commented on the company. Robert W. Baird upgraded Plains GP from a “neutral” rating to an “outperform” rating and dropped their price target for the stock from $22.00 to $21.00 in a report on Monday, December 2nd. Morgan Stanley assumed coverage on Plains GP in a report on Monday, January 6th. They set an “equal weight” rating and a $19.00 price target on the stock. Goldman Sachs Group upgraded Plains GP from a “neutral” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Thursday, February 6th. Zacks Investment Research upgraded Plains GP from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, ValuEngine upgraded Plains GP from a “sell” rating to a “hold” rating in a report on Saturday, January 4th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $22.67.

Plains GP Company Profile

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.

Read More: Percentage Gainers

Institutional Ownership by Quarter for Plains GP (NYSE:PAGP)

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