Csenge Advisory Group Increases Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Csenge Advisory Group increased its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 6.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 22,757 shares of the pipeline company’s stock after purchasing an additional 1,415 shares during the quarter. Csenge Advisory Group’s holdings in Plains GP were worth $418,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in Plains GP during the fourth quarter valued at $33,000. Allworth Financial LP bought a new position in Plains GP during the 4th quarter valued at about $44,000. Hara Capital LLC purchased a new stake in Plains GP in the 3rd quarter worth about $57,000. Eastern Bank bought a new stake in Plains GP in the third quarter worth about $76,000. Finally, Continuum Advisory LLC boosted its position in shares of Plains GP by 10.0% during the third quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after buying an additional 637 shares during the period. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Trading Up 2.3 %

NYSE:PAGP opened at $21.58 on Wednesday. The firm has a 50-day simple moving average of $20.06 and a 200-day simple moving average of $19.15. Plains GP Holdings, L.P. has a one year low of $16.77 and a one year high of $22.31. The firm has a market cap of $4.26 billion, a P/E ratio of 25.39 and a beta of 1.58. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Plains GP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.38 dividend. This is an increase from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.04%. Plains GP’s payout ratio is 286.79%.

Wall Street Analyst Weigh In

PAGP has been the topic of several recent analyst reports. Raymond James increased 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 lowered Plains GP from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Wolfe Research raised 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 upped their price target on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Finally, StockNews.com lowered shares of Plains GP from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Plains GP presently has a consensus rating of “Hold” and a consensus price target of $20.60.

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.