Cinctive Capital Management LP Acquires 50,868 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Cinctive Capital Management LP raised its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 5.1% during the 4th quarter, Holdings Channel reports. The fund owned 1,043,206 shares of the pipeline company’s stock after purchasing an additional 50,868 shares during the period. Plains GP comprises approximately 1.0% of Cinctive Capital Management LP’s holdings, making the stock its 17th largest position. Cinctive Capital Management LP’s holdings in Plains GP were worth $19,174,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Jones Financial Companies Lllp increased its position in shares of Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 520 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Plains GP during the 4th quarter valued at about $33,000. Allworth Financial LP purchased a new stake in Plains GP in the fourth quarter valued at about $44,000. Farther Finance Advisors LLC boosted its holdings in Plains GP by 8,120.7% in the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company’s stock worth $44,000 after acquiring an additional 2,355 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its stake in shares of Plains GP by 1,000.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company’s stock worth $81,000 after acquiring an additional 4,000 shares during the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Plains GP Trading Up 0.5 %

PAGP opened at $21.47 on Wednesday. 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 company’s 50 day simple moving average is $21.28 and its two-hundred day simple moving average is $19.72. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 40.51 and a beta of 1.55. 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 business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.38 dividend. This is a boost from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.08%. The ex-dividend date was Friday, January 31st. Plains GP’s dividend payout ratio is presently 286.79%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Plains GP from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 25th. Wells Fargo & Company cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. StockNews.com lowered shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Wednesday. Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Friday, January 10th. Finally, Raymond James boosted their price objective on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Plains GP presently has an average rating of “Hold” and a consensus target price of $21.00.

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.