Dakota Wealth Management Purchases New Shares in Plains GP Holdings, L.P. (NYSE:PAGP)

Dakota Wealth Management bought a new position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 40,359 shares of the pipeline company's stock, valued at approximately $862,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its stake in shares of Plains GP by 61.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock valued at $25,000 after buying an additional 520 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Plains GP by 8,120.7% during the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock worth $44,000 after acquiring an additional 2,355 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of 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 valued at $81,000 after purchasing an additional 4,000 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Plains GP by 233.1% during the 1st quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company's stock valued at $128,000 after purchasing an additional 4,195 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Plains GP by 2,252.7% during the 1st quarter. GAMMA Investing LLC now owns 8,352 shares of the pipeline company's stock valued at $178,000 after purchasing an additional 7,997 shares in the last quarter. 88.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PAGP has been the topic of a number of recent research reports. Citigroup dropped their target price on Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Wall Street Zen raised Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. boosted their price target on Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Morgan Stanley boosted their price target on Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 25th. Finally, Mizuho boosted their price target on Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $20.88.

Plains GP Stock Performance

Shares of PAGP stock traded up $0.30 during trading on Friday, reaching $20.01. 1,933,338 shares of the company's stock were exchanged, compared to its average volume of 1,610,529. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $3.96 billion, a PE ratio of 37.76 and a beta of 0.65. Plains GP Holdings, L.P. has a twelve month low of $16.61 and a twelve month high of $22.31. The firm's fifty day moving average price is $18.88 and its 200-day moving average price is $19.76.

Plains GP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.60%. The ex-dividend date is Thursday, July 31st. Plains GP's payout ratio is presently 205.41%.

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.