Barclays PLC Raises Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Barclays PLC raised its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 7.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 890,577 shares of the pipeline company's stock after purchasing an additional 65,080 shares during the period. Barclays PLC owned 0.45% of Plains GP worth $16,370,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PAGP. State Street Corp raised its stake in shares of Plains GP by 17.1% during the 3rd quarter. State Street Corp now owns 640,918 shares of the pipeline company's stock worth $11,857,000 after acquiring an additional 93,643 shares in the last quarter. Custom Index Systems LLC purchased a new stake in shares of Plains GP during the 4th quarter valued at $265,000. Chickasaw Capital Management LLC boosted its position in shares of Plains GP by 24.7% in 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. Plato Investment Management Ltd grew its stake in Plains GP by 144.2% during the 4th quarter. Plato Investment Management Ltd now owns 35,812 shares of the pipeline company's stock worth $661,000 after buying an additional 21,146 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in Plains GP during the 4th quarter valued at about $380,000. Institutional investors own 88.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley upped their target price on Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 25th. Raymond James raised their price objective 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. StockNews.com lowered Plains GP from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Barclays reduced their price target on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. 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 note on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $20.83.

Plains GP Stock Performance

Shares of NYSE PAGP remained flat at $19.34 during mid-day trading on Friday. The stock had a trading volume of 530,349 shares, compared to its average volume of 1,778,206. The stock's 50-day moving average is $20.26 and its 200-day moving average is $19.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 36.49 and a beta of 1.11. Plains GP Holdings, L.P. has a fifty-two week low of $16.60 and a fifty-two week high of $22.31.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 7.86%. The ex-dividend date is Thursday, May 1st. Plains GP's dividend payout ratio (DPR) is 286.79%.

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.