Plains GP Holdings, L.P. (NYSE:PAGP) is Chickasaw Capital Management LLC’s 8th Largest Position

Chickasaw Capital Management LLC increased its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 24.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,218,030 shares of the pipeline company’s stock after buying an additional 1,629,008 shares during the period. Plains GP makes up approximately 6.1% of Chickasaw Capital Management LLC’s holdings, making the stock its 8th largest holding. Chickasaw Capital Management LLC’s holdings in Plains GP were worth $151,047,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Continuum Advisory LLC boosted its stake in shares of Plains GP by 10.0% during the third quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock worth $127,000 after buying an additional 637 shares during the period. SL Advisors LLC grew its stake in shares of Plains GP by 3.3% in the 3rd quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company’s stock valued at $394,000 after purchasing an additional 679 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Plains GP by 0.9% in the second quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company’s stock valued at $1,407,000 after purchasing an additional 681 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Plains GP by 1.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock worth $720,000 after purchasing an additional 717 shares during the last quarter. Finally, Townsquare Capital LLC lifted its holdings in shares of Plains GP by 1.2% during the third quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock worth $1,110,000 after purchasing an additional 729 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PAGP. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $22.00 to $19.00 in a report on Friday, October 25th. Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Wolfe Research upgraded Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Plains GP has an average rating of “Hold” and a consensus target price of $19.88.

Plains GP Trading Up 0.5 %

Shares of NYSE PAGP traded up $0.09 during midday trading on Tuesday, reaching $18.88. 823,600 shares of the stock were exchanged, compared to its average volume of 1,282,276. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $3.73 billion, a P/E ratio of 22.21 and a beta of 1.58. The stock has a 50 day moving average price of $18.64 and a 200-day moving average price of $18.78. Plains GP Holdings, L.P. has a 52-week low of $15.78 and a 52-week high of $20.10.

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.