Plains GP Holdings, L.P. (NYSE:PAGP) Stock Position Raised by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV raised its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 669.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,981 shares of the pipeline company's stock after purchasing an additional 66,977 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Plains GP were worth $1,415,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp raised its holdings in shares of 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 acquiring an additional 520 shares during the last quarter. US Bancorp DE boosted its position in Plains GP by 0.7% in the 4th quarter. US Bancorp DE now owns 86,863 shares of the pipeline company's stock valued at $1,597,000 after buying an additional 598 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Plains GP by 3.0% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 25,634 shares of the pipeline company's stock valued at $471,000 after buying an additional 748 shares during the period. ELCO Management Co. LLC increased its holdings in Plains GP by 2.4% in the fourth quarter. ELCO Management Co. LLC now owns 33,954 shares of the pipeline company's stock valued at $624,000 after buying an additional 802 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Plains GP by 1.2% during the fourth quarter. NewEdge Advisors LLC now owns 78,000 shares of the pipeline company's stock worth $1,434,000 after purchasing an additional 953 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PAGP. Raymond James raised their price target on Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 28th. Morgan Stanley raised their price target 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. Barclays decreased their price objective on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research note on Thursday, April 10th. Finally, StockNews.com lowered shares of Plains GP from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $21.40.

Plains GP Stock Performance

PAGP traded up $0.68 during trading on Monday, reaching $18.42. 2,234,314 shares of the company were exchanged, compared to its average volume of 1,544,450. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $19.57 and a 200 day moving average of $19.68. The stock has a market cap of $3.64 billion, a P/E ratio of 34.76 and a beta of 0.68. Plains GP Holdings, L.P. has a 52 week low of $16.61 and a 52 week high of $22.31.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.52 annualized dividend and a dividend yield of 8.25%. Plains GP's payout ratio is 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.