Plains GP Holdings, L.P. (NYSE:PAGP) Stock Position Lifted by US Bancorp DE

US Bancorp DE lifted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 86,863 shares of the pipeline company’s stock after purchasing an additional 598 shares during the quarter. US Bancorp DE’s holdings in Plains GP were worth $1,597,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the company. State Street Corp lifted its stake in Plains GP by 17.1% in the 3rd quarter. State Street Corp now owns 640,918 shares of the pipeline company’s stock worth $11,857,000 after acquiring an additional 93,643 shares in the last quarter. Custom Index Systems LLC acquired a new stake in Plains GP in the 4th quarter valued at approximately $265,000. Chickasaw Capital Management LLC lifted its position in shares of Plains GP by 24.7% in the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock worth $151,047,000 after acquiring an additional 1,629,008 shares during the period. Vestcor Inc lifted its position in shares of Plains GP by 79.1% in the 3rd quarter. Vestcor Inc now owns 78,442 shares of the pipeline company’s stock worth $1,451,000 after acquiring an additional 34,633 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Plains GP during the 3rd quarter worth approximately $4,013,000. Institutional investors own 88.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com downgraded Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Barclays lifted their target price on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Friday, January 10th. Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Raymond James upped their price objective on Plains GP from $23.00 to $24.00 and gave the stock 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Plains GP presently has an average rating of “Hold” and a consensus target price of $20.60.

Plains GP Price Performance

Plains GP stock opened at $20.70 on Friday. The stock’s fifty day moving average price is $20.79 and its two-hundred day moving average price is $19.42. Plains GP Holdings, L.P. has a one year low of $17.17 and a one year high of $22.31. 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 market cap of $4.09 billion, a PE ratio of 39.06 and a beta of 1.55.

Plains GP Increases Dividend

The firm 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 represents a $1.52 dividend on an annualized basis and a dividend yield of 7.34%. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s dividend payout ratio (DPR) is currently 286.79%.

About Plains GP

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.