Private Advisor Group LLC Has $759,000 Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Private Advisor Group LLC boosted its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,293 shares of the pipeline company’s stock after purchasing an additional 1,015 shares during the quarter. Private Advisor Group LLC’s holdings in Plains GP were worth $759,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PAGP. Golden State Wealth Management LLC acquired a new stake in shares of Plains GP in the 4th quarter valued at about $33,000. Allworth Financial LP bought a new position in Plains GP in the fourth quarter worth approximately $44,000. Hara Capital LLC acquired a new stake in Plains GP in the third quarter valued at approximately $57,000. Venturi Wealth Management LLC bought a new stake in shares of Plains GP during the fourth quarter valued at approximately $103,000. Finally, Continuum Advisory LLC lifted its holdings in shares of Plains GP by 10.0% in the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock worth $127,000 after purchasing an additional 637 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on PAGP. 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 note on Friday, January 10th. Wells Fargo & Company lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Raymond James raised their price target 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. Barclays boosted their price objective on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Finally, StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Two research 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 company. According to data from MarketBeat.com, Plains GP presently has a consensus rating of “Hold” and a consensus target price of $20.60.

Plains GP Stock Performance

Shares of Plains GP stock opened at $21.60 on Friday. The business’s fifty day simple moving average is $20.56 and its 200 day simple moving average is $19.35. 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 $17.10 and a 12 month high of $22.31. The firm has a market capitalization of $4.27 billion, a P/E ratio of 40.76 and a beta of 1.58.

Plains GP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.38 dividend. This is an increase from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date of this dividend was Friday, January 31st. Plains GP’s payout ratio 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.