Hsbc Holdings PLC Buys 482,213 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Hsbc Holdings PLC raised its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 31.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,036,816 shares of the pipeline company's stock after acquiring an additional 482,213 shares during the quarter. Hsbc Holdings PLC owned approximately 1.03% of Plains GP worth $37,436,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PAGP. Jones Financial Companies Lllp lifted its position in 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 purchasing an additional 520 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Plains GP in the 4th quarter valued at approximately $33,000. Allworth Financial LP acquired a new stake in shares of Plains GP in the 4th quarter valued at approximately $44,000. Farther Finance Advisors LLC boosted its stake in shares of Plains GP by 8,120.7% in the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock valued at $44,000 after buying an additional 2,355 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its holdings 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 worth $81,000 after acquiring an additional 4,000 shares during the period. Hedge funds and other institutional investors own 88.30% of the company's stock.

Plains GP Stock Performance

Shares of Plains GP stock traded down $0.26 on Thursday, reaching $18.00. 383,781 shares of the company were exchanged, compared to its average volume of 1,754,937. Plains GP Holdings, L.P. has a 1-year low of $16.60 and a 1-year high of $22.31. 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 is $20.06 and its two-hundred day moving average is $19.69. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 33.99 and a beta of 1.11.

Plains GP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.44%. The ex-dividend date of this dividend is Thursday, May 1st. Plains GP's dividend payout ratio is presently 286.79%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PAGP shares. Morgan Stanley increased their target price 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. StockNews.com downgraded Plains GP from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Barclays decreased their target price on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research report on Thursday, April 10th. Raymond James lifted their price target on Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 28th. Finally, Wolfe Research upgraded shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $20.83.

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.