BNP Paribas Financial Markets Acquires 139,389 Shares of Plains GP Holdings, L.P. $PAGP

BNP Paribas Financial Markets boosted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 15.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,047,327 shares of the pipeline company’s stock after buying an additional 139,389 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.53% of Plains GP worth $20,046,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PAGP. Larson Financial Group LLC bought a new position in Plains GP in the 3rd quarter valued at approximately $46,000. Lazard Asset Management LLC raised its holdings in Plains GP by 36.5% during the 2nd quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock worth $58,000 after purchasing an additional 811 shares during the last quarter. CWM LLC raised its holdings in Plains GP by 8.5% during the 4th quarter. CWM LLC now owns 8,113 shares of the pipeline company’s stock worth $155,000 after purchasing an additional 636 shares during the last quarter. Amplify Investments LLC raised its holdings in Plains GP by 21.4% during the 4th quarter. Amplify Investments LLC now owns 9,911 shares of the pipeline company’s stock worth $174,000 after purchasing an additional 1,749 shares during the last quarter. Finally, First Foundation Advisors bought a new position in Plains GP during the 3rd quarter worth approximately $182,000. Institutional investors own 88.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. US Capital Advisors lowered shares of Plains GP from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Stifel Nicolaus raised their price target on shares of Plains GP from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Citigroup raised their price target on shares of Plains GP from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Truist Financial assumed coverage on shares of Plains GP in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price target for the company. Finally, Barclays raised their price target on shares of Plains GP from $18.00 to $21.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.64.

Plains GP Stock Performance

Shares of PAGP stock opened at $24.46 on Friday. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 46.15 and a beta of 0.46. Plains GP Holdings, L.P. has a 52 week low of $16.68 and a 52 week high of $26.15. 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 firm has a 50 day moving average of $24.09 and a 200-day moving average of $21.78.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.4175 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.67 annualized dividend and a dividend yield of 6.8%. Plains GP’s dividend payout ratio (DPR) is 172.16%.

Plains GP Company Profile

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.