Plains GP Holdings, L.P. (NYSE:PAGP) Stake Lifted by LPL Financial LLC

LPL Financial LLC raised its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 4.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 726,056 shares of the pipeline company’s stock after buying an additional 32,130 shares during the quarter. LPL Financial LLC owned approximately 0.37% of Plains GP worth $13,345,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its position in Plains GP by 61.7% in 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 during the period. Golden State Wealth Management LLC acquired a new stake in shares of Plains GP in the fourth quarter valued at $33,000. Farther Finance Advisors LLC lifted its holdings in shares of 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 valued at $44,000 after buying an additional 2,355 shares during the period. Allworth Financial LP bought a new position in Plains GP during the fourth quarter valued at about $44,000. Finally, Atala Financial Inc acquired a new position in Plains GP during the fourth quarter worth about $90,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 25th. Barclays increased their price objective on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. 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 report on Friday, January 10th. Finally, Raymond James boosted 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 report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Plains GP has an average rating of “Hold” and a consensus price target of $21.00.

Plains GP Trading Up 0.7 %

NYSE PAGP opened at $21.61 on Thursday. The firm has a market capitalization of $4.27 billion, a PE ratio of 40.77 and a beta of 1.55. The business’s 50-day moving average price is $21.28 and its two-hundred day moving average price is $19.73. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 12 month low of $17.17 and a 12 month high of $22.31.

Plains GP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.38 dividend. The ex-dividend date was Friday, January 31st. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.03%. Plains GP’s dividend payout ratio (DPR) is 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.