Tower Research Capital LLC TRC grew its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 114.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,235 shares of the pipeline company's stock after acquiring an additional 14,538 shares during the quarter. Tower Research Capital LLC TRC's holdings in Plains GP were worth $501,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in PAGP. Jones Financial Companies Lllp raised its position 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 valued at $25,000 after acquiring an additional 520 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Plains GP in the 4th quarter valued at $33,000. Allworth Financial LP purchased a new stake in Plains GP during the fourth quarter worth $44,000. Farther Finance Advisors LLC grew its position 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 buying an additional 2,355 shares during the period. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in Plains GP by 1,000.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company's stock valued at $81,000 after buying an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Barclays dropped their target price on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research report on Thursday, April 10th. Raymond James boosted their price objective on Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research report 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. Wolfe Research raised shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price target for the company in a report on Friday, January 10th. Finally, Morgan Stanley increased 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Plains GP has an average rating of "Hold" and an average price target of $20.83.
Read Our Latest Stock Analysis on Plains GP
Plains GP Price Performance
PAGP stock traded down $0.09 during mid-day trading on Friday, reaching $17.77. The company's stock had a trading volume of 2,449,934 shares, compared to its average volume of 1,555,798. 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 company's 50 day moving average is $19.92 and its two-hundred day moving average is $19.68. Plains GP Holdings, L.P. has a fifty-two week low of $16.61 and a fifty-two week high of $22.31. The stock has a market cap of $3.51 billion, a PE ratio of 33.53 and a beta of 1.11.
Plains GP Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given 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 8.55%. Plains GP's payout ratio is 286.79%.
About Plains GP
(
Free Report)
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.
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