20,650 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. acquired a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 20,650 shares of the pipeline company’s stock, valued at approximately $380,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in shares of Plains GP during the fourth quarter valued at about $33,000. Allworth Financial LP acquired a new stake in shares of Plains GP during the fourth quarter valued at about $44,000. Hara Capital LLC acquired a new stake in shares of Plains GP during the third quarter valued at about $57,000. Venturi Wealth Management LLC acquired a new stake in shares of Plains GP during the fourth quarter valued at about $103,000. Finally, Continuum Advisory LLC increased its position 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 valued at $127,000 after acquiring an additional 637 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Trading Up 1.5 %

NYSE PAGP opened at $20.70 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 52 week low of $17.17 and a 52 week high of $22.31. The stock has a market capitalization of $4.09 billion, a PE ratio of 39.06 and a beta of 1.55. The firm has a 50 day moving average of $20.79 and a two-hundred day moving average of $19.41.

Plains GP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.34%. The ex-dividend date was Friday, January 31st. This is a boost from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s payout ratio is 286.79%.

Wall Street Analysts Forecast Growth

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

Plains GP 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.