Oppenheimer & Co. Inc. Makes New $380,000 Investment in Plains GP Holdings, L.P. (NYSE:PAGP)

Oppenheimer & Co. Inc. purchased a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 20,650 shares of the pipeline company's stock, valued at approximately $380,000.

Several other institutional investors and hedge funds have also modified their holdings of PAGP. Golden State Wealth Management LLC bought a new stake in Plains GP during the fourth quarter valued at about $33,000. Allworth Financial LP purchased a new position in Plains GP during the fourth quarter valued at approximately $44,000. Hara Capital LLC bought a new position in shares of Plains GP in the third quarter worth approximately $57,000. Venturi Wealth Management LLC bought a new stake in shares of Plains GP during the 4th quarter valued at $103,000. 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 valued at $127,000 after buying an additional 637 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company's stock.

Analysts Set New Price Targets

PAGP has been the topic of several recent analyst reports. StockNews.com downgraded Plains GP from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Barclays boosted their price target on shares of Plains GP from $18.00 to $19.00 and gave the stock an "underweight" rating in a research note on Thursday, January 16th. Raymond James lifted their target price 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 raised Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company downgraded shares of Plains GP from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Plains GP presently has an average rating of "Hold" and an average target price of $20.60.

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Plains GP Stock Performance

NYSE PAGP traded down $0.10 on Tuesday, hitting $20.65. 1,341,162 shares of the company's stock traded hands, compared to its average volume of 1,516,737. The firm has a market capitalization of $4.08 billion, a PE ratio of 38.96 and a beta of 1.55. Plains GP Holdings, L.P. has a 1-year low of $17.17 and a 1-year high of $22.31. The firm's 50-day moving average price is $20.84 and its two-hundred day moving average price is $19.43. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

Plains GP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.36%. This is a positive change from Plains GP's previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. Plains GP's dividend payout ratio (DPR) 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.