Fox Run Management L.L.C. Makes New $737,000 Investment in Plains GP Holdings, L.P. (NYSE:PAGP)

Fox Run Management L.L.C. acquired a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 40,114 shares of the pipeline company’s stock, valued at approximately $737,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Chickasaw Capital Management LLC boosted its stake in Plains GP by 24.7% during the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock worth $151,047,000 after buying an additional 1,629,008 shares during the period. Miller Howard Investments Inc. NY boosted its stake in Plains GP by 2.3% during the fourth quarter. Miller Howard Investments Inc. NY now owns 1,535,470 shares of the pipeline company’s stock worth $28,222,000 after buying an additional 34,894 shares during the period. BNP Paribas Financial Markets boosted its stake in Plains GP by 8.5% during the third quarter. BNP Paribas Financial Markets now owns 1,313,974 shares of the pipeline company’s stock worth $24,309,000 after buying an additional 103,353 shares during the period. Thompson Siegel & Walmsley LLC boosted its stake in Plains GP by 11.6% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 835,254 shares of the pipeline company’s stock worth $15,352,000 after buying an additional 86,714 shares during the period. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of Plains GP by 2.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 750,930 shares of the pipeline company’s stock valued at $13,802,000 after purchasing an additional 18,595 shares during the period. 88.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PAGP shares. StockNews.com lowered shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Barclays boosted their target price on shares of Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Raymond James boosted their target price on shares of Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Plains GP currently has a consensus rating of “Hold” and an average target price of $20.60.

Plains GP Stock Performance

PAGP stock opened at $21.34 on Monday. The company has a market capitalization of $4.22 billion, a P/E ratio of 40.26 and a beta of 1.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The business has a 50-day moving average price of $21.23 and a 200 day moving average price of $19.57. Plains GP Holdings, L.P. has a 1-year low of $17.17 and a 1-year high of $22.31.

Plains GP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 7.12%. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. Plains GP’s dividend payout ratio is presently 286.79%.

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.