355,313 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Purchased by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC acquired a new position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 355,313 shares of the pipeline company's stock, valued at approximately $6,531,000. Susquehanna Fundamental Investments LLC owned 0.18% of Plains GP at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PAGP. Tortoise Capital Advisors L.L.C. grew its stake in Plains GP by 8.0% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company's stock worth $229,989,000 after buying an additional 927,855 shares during the period. Chickasaw Capital Management LLC increased its position in shares of Plains GP by 24.7% during the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company's stock worth $151,047,000 after acquiring an additional 1,629,008 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Plains GP by 11.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company's stock valued at $113,077,000 after acquiring an additional 646,130 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Plains GP by 10.0% during the 4th quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company's stock valued at $58,213,000 after acquiring an additional 288,430 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Plains GP by 0.9% in the fourth quarter. Invesco Ltd. now owns 2,932,295 shares of the pipeline company's stock valued at $53,896,000 after acquiring an additional 27,148 shares during the period. Hedge funds and other institutional investors own 88.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PAGP shares. StockNews.com lowered Plains GP from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Morgan Stanley upped their target price on shares of Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 25th. Wolfe Research raised Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a report on Friday, January 10th. Barclays decreased their price objective on 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 target price on Plains GP from $23.00 to $24.00 and gave the company 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 assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $20.83.

Plains GP Price Performance

NYSE:PAGP traded down $0.78 during mid-day trading on Thursday, reaching $17.86. 1,391,616 shares of the stock were exchanged, compared to its average volume of 1,560,391. Plains GP Holdings, L.P. has a 1-year low of $16.61 and a 1-year high of $22.31. 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 market capitalization of $3.53 billion, a PE ratio of 33.70 and a beta of 1.11. The business has a fifty day moving average price of $20.06 and a 200 day moving average price of $19.69.

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 issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 8.51%. The ex-dividend date of this dividend is Thursday, May 1st. Plains GP's payout ratio is 286.79%.

About Plains GP

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.