Algert Global LLC Buys 685,307 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Algert Global LLC raised its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 781.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 772,966 shares of the pipeline company's stock after purchasing an additional 685,307 shares during the quarter. Algert Global LLC owned 0.39% of Plains GP worth $14,207,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its position in Plains GP by 2.3% in the third quarter. Geode Capital Management LLC now owns 156,635 shares of the pipeline company's stock valued at $2,898,000 after acquiring an additional 3,582 shares during the last quarter. Chickasaw Capital Management LLC increased its position in Plains GP by 24.7% during the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company's stock worth $151,047,000 after purchasing an additional 1,629,008 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of Plains GP by 16.7% during the fourth quarter. 180 Wealth Advisors LLC now owns 14,000 shares of the pipeline company's stock worth $257,000 after buying an additional 2,000 shares in the last quarter. Fiduciary Financial Group LLC bought a new position in shares of Plains GP in the 4th quarter valued at $217,000. Finally, Central Valley Advisors LLC acquired a new stake in shares of Plains GP during the 4th quarter valued at $2,949,000. Institutional investors own 88.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 25th. StockNews.com downgraded Plains GP from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. Raymond James increased their price target on Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 28th. Barclays cut their price objective on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. Finally, Wolfe Research raised shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 target price for the company in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Plains GP has an average rating of "Hold" and a consensus target price of $21.40.

Plains GP Stock Down 2.6 %

Shares of PAGP traded down $0.47 during trading hours on Friday, reaching $17.77. The stock had a trading volume of 916,444 shares, compared to its average volume of 1,789,758. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 33.53 and a beta of 0.68. The firm has a 50-day simple moving average of $19.63 and a 200 day simple moving average of $19.66. 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 $16.60 and a 12 month high of $22.31.

Plains GP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.55%. The ex-dividend date of this dividend is Thursday, May 1st. Plains GP's payout ratio is presently 286.79%.

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.