Plato Investment Management Ltd Purchases 21,146 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Plato Investment Management Ltd increased its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 144.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,812 shares of the pipeline company’s stock after purchasing an additional 21,146 shares during the quarter. Plato Investment Management Ltd’s holdings in Plains GP were worth $661,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PAGP. Jones Financial Companies Lllp raised its stake 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 worth $25,000 after acquiring an additional 520 shares in the last quarter. US Bancorp DE raised its stake in Plains GP by 0.7% during the fourth quarter. US Bancorp DE now owns 86,863 shares of the pipeline company’s stock worth $1,597,000 after acquiring an additional 598 shares in the last quarter. Linscomb Wealth Inc. raised its stake in Plains GP by 9.0% during the fourth quarter. Linscomb Wealth Inc. now owns 341,332 shares of the pipeline company’s stock worth $6,274,000 after acquiring an additional 28,232 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Plains GP during the fourth quarter worth $380,000. Finally, Oppenheimer Asset Management Inc. raised its stake in Plains GP by 3.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 25,634 shares of the pipeline company’s stock worth $471,000 after acquiring an additional 748 shares in the last quarter. 88.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PAGP shares. Raymond James increased their price objective on Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 28th. StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Barclays raised their target price on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. 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. Finally, Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued 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 target price of $20.60.

Plains GP Price Performance

Plains GP stock opened at $20.60 on Wednesday. The business’s 50-day simple moving average is $20.66 and its 200 day simple moving average is $19.39. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 38.87 and a beta of 1.58. Plains GP Holdings, L.P. has a 12-month low of $17.17 and a 12-month high of $22.31. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.38 dividend. This is a boost from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.38%. Plains GP’s dividend payout ratio (DPR) is currently 286.79%.

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.