Vanguard Group Inc. Buys 288,430 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Vanguard Group Inc. raised its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,167,192 shares of the pipeline company's stock after purchasing an additional 288,430 shares during the quarter. Vanguard Group Inc. owned 1.60% of Plains GP worth $58,213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its holdings in Plains GP by 61.7% during the fourth 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 last quarter. Golden State Wealth Management LLC purchased a new position in Plains GP in the fourth quarter worth $33,000. Allworth Financial LP purchased a new position in Plains GP in the fourth quarter valued at approximately $44,000. Farther Finance Advisors LLC lifted its holdings 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 purchasing an additional 2,355 shares during the last quarter. Finally, Atala Financial Inc purchased a new position in shares of Plains GP in the fourth quarter worth about $90,000. Hedge funds and other institutional investors own 88.30% of the company's stock.

Plains GP Stock Up 1.4 %

Shares of NYSE:PAGP traded up $0.26 during trading on Thursday, hitting $18.97. The stock had a trading volume of 218,775 shares, compared to its average volume of 1,801,574. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 12 month low of $16.60 and a 12 month high of $22.31. The company has a market capitalization of $3.75 billion, a PE ratio of 35.81 and a beta of 1.11. The firm's fifty day moving average is $20.51 and its 200 day moving average is $19.67.

Plains GP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 dividend yield of 8.01%. The ex-dividend date of this dividend is Thursday, May 1st. Plains GP's dividend payout ratio (DPR) is presently 286.79%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Raymond James raised their price objective on shares of Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 28th. Barclays dropped their price target 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. Wells Fargo & Company cut Plains GP from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Wolfe Research raised Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Finally, StockNews.com downgraded shares of Plains GP from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Plains GP has a consensus 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.