Plains GP Holdings, L.P. (NYSE:PAGP) Shares Bought by Americana Partners LLC

Americana Partners LLC lifted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 512.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 212,307 shares of the pipeline company’s stock after purchasing an additional 177,625 shares during the period. Americana Partners LLC owned about 0.11% of Plains GP worth $3,902,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PAGP. Golden State Wealth Management LLC purchased a new stake in Plains GP in the 4th quarter valued at approximately $33,000. Allworth Financial LP purchased a new stake in Plains GP in the 4th quarter valued at approximately $44,000. Hara Capital LLC purchased a new stake in Plains GP in the 3rd quarter valued at approximately $57,000. Eastern Bank purchased a new stake in Plains GP in the 3rd quarter valued at approximately $76,000. Finally, Continuum Advisory LLC lifted its stake in shares of Plains GP by 10.0% during the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock worth $127,000 after purchasing an additional 637 shares during the period. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PAGP shares. Raymond James upped their price objective on Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 28th. Wolfe Research upgraded 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. Wells Fargo & Company cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Morgan Stanley cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Barclays lifted their price target on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.60.

Plains GP Stock Up 0.9 %

Shares of NYSE:PAGP opened at $21.10 on Monday. Plains GP Holdings, L.P. has a 52 week low of $16.36 and a 52 week high of $22.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The company has a market capitalization of $4.17 billion, a PE ratio of 24.85 and a beta of 1.58. The company has a 50 day moving average price of $20.03 and a two-hundred day moving average price of $19.14.

Plains GP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.38 per share. This is an increase from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.52 annualized dividend and a dividend yield of 7.20%. Plains GP’s dividend payout ratio is currently 178.82%.

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.