Janney Montgomery Scott LLC Buys 159,795 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Janney Montgomery Scott LLC increased its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 434.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 196,584 shares of the pipeline company's stock after purchasing an additional 159,795 shares during the quarter. Janney Montgomery Scott LLC owned about 0.10% of Plains GP worth $4,199,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

PAGP has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barclays dropped their price objective on Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research note on Thursday, April 10th. Morgan Stanley upped their target price on Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 25th. Mizuho raised their price target on Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, June 18th. Finally, Citigroup dropped their price target on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $20.88.

Plains GP Trading Down 1.2%

Shares of PAGP stock opened at $19.43 on Tuesday. The business has a 50-day moving average price of $18.49 and a two-hundred day moving average price of $19.65. Plains GP Holdings, L.P. has a 12-month low of $16.61 and a 12-month high of $22.31. 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 firm has a market cap of $3.84 billion, a P/E ratio of 36.66 and a beta of 0.63.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.82%. Plains GP's dividend payout ratio (DPR) is currently 205.41%.

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.

Want to see what other hedge funds are holding PAGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plains GP Holdings, L.P. (NYSE:PAGP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.