53,426 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Acquired by Inscription Capital LLC

Inscription Capital LLC purchased a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,426 shares of the pipeline company's stock, valued at approximately $1,141,000.

A number of other hedge funds have also made changes to their positions in PAGP. Jones Financial Companies Lllp increased its stake in Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock valued at $25,000 after purchasing an additional 520 shares during the last quarter. Allworth Financial LP bought a new position in Plains GP in the 4th quarter worth approximately $44,000. Farther Finance Advisors LLC increased its position in Plains GP by 8,120.7% in the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock valued at $44,000 after acquiring an additional 2,355 shares during the period. Mark Sheptoff Financial Planning LLC boosted its position in Plains GP by 1,000.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company's stock worth $81,000 after acquiring an additional 4,000 shares during the period. Finally, Atala Financial Inc bought a new stake in shares of Plains GP during the fourth quarter valued at about $90,000. Institutional investors and hedge funds own 88.30% of the company's stock.

Plains GP Stock Performance

Shares of NYSE:PAGP traded up $0.80 on Wednesday, hitting $19.75. 3,053,653 shares of the company were exchanged, compared to its average volume of 1,582,559. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The company's 50 day moving average price is $18.37 and its two-hundred day moving average price is $19.65. Plains GP Holdings, L.P. has a one year low of $16.61 and a one year high of $22.31. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 37.26 and a beta of 0.63.

Plains GP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 annualized dividend and a yield of 7.70%. Plains GP's dividend payout ratio (DPR) is 205.41%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Citigroup lowered their price objective on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Barclays reduced their target price on Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a report on Thursday, April 10th. Mizuho boosted their target price on shares of Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Morgan Stanley boosted their price target on shares of Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $20.88.

Plains GP Company 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.