Plains GP Holdings, L.P. $PAGP Stock Position Cut by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC lessened its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 26.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 693,523 shares of the pipeline company’s stock after selling 245,350 shares during the period. Catalyst Capital Advisors LLC’s holdings in Plains GP were worth $13,274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PAGP. Larson Financial Group LLC bought a new position in Plains GP in the 3rd quarter valued at about $46,000. Lazard Asset Management LLC grew its position in Plains GP by 36.5% in the 2nd quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock valued at $58,000 after buying an additional 811 shares in the last quarter. CWM LLC grew its position in Plains GP by 8.5% in the 4th quarter. CWM LLC now owns 8,113 shares of the pipeline company’s stock valued at $155,000 after buying an additional 636 shares in the last quarter. Amplify Investments LLC grew its position in Plains GP by 21.4% in the 4th quarter. Amplify Investments LLC now owns 9,911 shares of the pipeline company’s stock valued at $174,000 after buying an additional 1,749 shares in the last quarter. Finally, First Foundation Advisors bought a new position in Plains GP in the 3rd quarter valued at about $182,000. Institutional investors own 88.30% of the company’s stock.

Plains GP Price Performance

PAGP stock opened at $24.35 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a one year low of $16.68 and a one year high of $26.15. The firm has a market capitalization of $4.82 billion, a PE ratio of 45.94 and a beta of 0.46. The firm has a 50-day moving average of $24.00 and a two-hundred day moving average of $21.53.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a dividend of $0.4175 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.67 dividend on an annualized basis and a yield of 6.9%. Plains GP’s dividend payout ratio is currently 172.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PAGP shares. Truist Financial started coverage on shares of Plains GP in a report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price target for the company. Citigroup upped their price target on shares of Plains GP from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Barclays upped their price target on shares of Plains GP from $18.00 to $21.00 and gave the company an “underweight” rating in a report on Friday, April 10th. Wells Fargo & Company upped their price target on shares of Plains GP from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Finally, Morgan Stanley upped their price target on shares of Plains GP from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.50.

Plains GP 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.