Raymond James Financial Inc. Buys New Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Raymond James Financial Inc. purchased a new stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 283,651 shares of the pipeline company's stock, valued at approximately $5,214,000. Raymond James Financial Inc. owned 0.14% of Plains GP as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Custom Index Systems LLC bought a new stake in shares of Plains GP in the 4th quarter valued at about $265,000. Chickasaw Capital Management LLC boosted its position in Plains GP by 24.7% during the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company's stock valued at $151,047,000 after acquiring an additional 1,629,008 shares in the last quarter. Plato Investment Management Ltd increased its holdings in shares of Plains GP by 144.2% in the 4th quarter. Plato Investment Management Ltd now owns 35,812 shares of the pipeline company's stock valued at $661,000 after acquiring an additional 21,146 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Plains GP during the fourth quarter valued at about $380,000. Finally, HF Advisory Group LLC grew its stake in Plains GP by 31.0% in the fourth quarter. HF Advisory Group LLC now owns 138,058 shares of the pipeline company's stock valued at $2,538,000 after purchasing an additional 32,691 shares during the last quarter. Institutional investors own 88.30% of the company's stock.

Plains GP Trading Down 0.0 %

PAGP traded down $0.00 during trading hours on Thursday, reaching $18.26. The company's stock had a trading volume of 303,417 shares, compared to its average volume of 1,556,127. Plains GP Holdings, L.P. has a fifty-two week low of $16.61 and a fifty-two week high of $22.31. The business's 50-day moving average is $20.06 and its 200-day moving average is $19.69. The stock has a market cap of $3.61 billion, a PE ratio of 34.47 and a beta of 1.11. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 8.33%. Plains GP's dividend payout ratio (DPR) is presently 286.79%.

Analyst Ratings Changes

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

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.