McGowan Group Asset Management Inc. Has $20.79 Million Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

McGowan Group Asset Management Inc. lifted its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,130,891 shares of the pipeline company’s stock after buying an additional 8,726 shares during the period. Plains GP comprises 2.8% of McGowan Group Asset Management Inc.’s portfolio, making the stock its 9th largest holding. McGowan Group Asset Management Inc.’s holdings in Plains GP were worth $20,786,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PAGP. Jones Financial Companies Lllp lifted its position in Plains GP by 61.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 520 shares in the last quarter. US Bancorp DE increased its holdings in shares of Plains GP by 0.7% in the 4th quarter. US Bancorp DE now owns 86,863 shares of the pipeline company’s stock worth $1,597,000 after purchasing an additional 598 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Plains GP by 3.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 25,634 shares of the pipeline company’s stock worth $471,000 after purchasing an additional 748 shares during the last quarter. ELCO Management Co. LLC lifted its holdings in shares of Plains GP by 2.4% during the fourth quarter. ELCO Management Co. LLC now owns 33,954 shares of the pipeline company’s stock valued at $624,000 after purchasing an additional 802 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Plains GP by 1.2% during the fourth quarter. NewEdge Advisors LLC now owns 78,000 shares of the pipeline company’s stock valued at $1,434,000 after buying an additional 953 shares during the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Price Performance

Shares of NYSE:PAGP opened at $18.42 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $3.64 billion, a PE ratio of 34.76 and a beta of 0.68. The firm’s 50 day moving average price is $19.53 and its 200-day moving average price is $19.68. Plains GP Holdings, L.P. has a twelve month low of $16.61 and a twelve month high of $22.31.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.25%. The ex-dividend date is Thursday, May 1st. Plains GP’s dividend payout ratio is presently 205.41%.

Analyst Ratings Changes

PAGP has been the subject of a number of recent analyst reports. StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Raymond James lifted their price target on shares of Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 28th. Morgan Stanley increased their price objective on shares of Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 25th. Finally, Barclays dropped their target price on shares of Plains GP from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.40.

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.