2,390 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Acquired by Allworth Financial LP

Allworth Financial LP purchased a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,390 shares of the pipeline company’s stock, valued at approximately $44,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new stake in shares of Plains GP during the 4th quarter valued at $33,000. Hara Capital LLC purchased a new stake in Plains GP during the third quarter valued at about $57,000. Continuum Advisory LLC grew its position in Plains GP by 10.0% during the third quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after acquiring an additional 637 shares during the period. F&V Capital Management LLC acquired a new stake in Plains GP during the fourth quarter worth about $153,000. Finally, Insigneo Advisory Services LLC acquired a new position in shares of Plains GP in the 3rd quarter valued at about $188,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analyst Ratings Changes

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

Plains GP Stock Performance

NYSE:PAGP opened at $21.31 on Wednesday. Plains GP Holdings, L.P. has a 1-year low of $16.90 and a 1-year high of $22.31. The stock has a market cap of $4.21 billion, a P/E ratio of 40.21 and a beta of 1.58. 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 firm has a 50-day moving average of $20.36 and a two-hundred day moving average of $19.29.

Plains GP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date was Friday, January 31st. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s dividend payout ratio (DPR) is 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.