CFO4Life Group LLC Has $203,000 Stock Position in Plains GP Holdings, L.P. (NYSE:PAGP)

CFO4Life Group LLC trimmed its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 8.1% in the first quarter, Holdings Channel.com reports. The firm owned 9,517 shares of the pipeline company’s stock after selling 837 shares during the period. CFO4Life Group LLC’s holdings in Plains GP were worth $203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAGP. Tortoise Capital Advisors L.L.C. boosted its holdings in Plains GP by 8.0% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company’s stock worth $229,989,000 after buying an additional 927,855 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Plains GP by 11.7% during the fourth quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company’s stock worth $113,077,000 after buying an additional 646,130 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in Plains GP by 2.0% during the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,033,000 shares of the pipeline company’s stock worth $86,145,000 after buying an additional 80,000 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Plains GP by 0.5% during the fourth quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company’s stock worth $73,610,000 after buying an additional 19,900 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Plains GP by 10.0% during the fourth quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company’s stock worth $58,213,000 after buying an additional 288,430 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Plains GP from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, June 18th. Mizuho lifted their price objective on Plains GP from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, June 18th. Citigroup cut their price objective on Plains GP from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Morgan Stanley lifted their price objective on Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, March 25th. Finally, Barclays cut their price objective on 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, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.88.

Plains GP Stock Up 0.4%

Shares of Plains GP stock opened at $19.65 on Friday. The business’s 50 day simple moving average is $18.63 and its 200 day simple moving average is $19.69. Plains GP Holdings, L.P. has a 52-week low of $16.61 and a 52-week high of $22.31. The firm has a market cap of $3.89 billion, a PE ratio of 37.08 and a beta of 0.65. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.74%. The ex-dividend date of this dividend is Thursday, July 31st. Plains GP’s dividend payout ratio is presently 205.41%.

Plains GP 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.