Ellsworth Advisors LLC Acquires New Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Ellsworth Advisors LLC acquired a new position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 38,422 shares of the pipeline company's stock, valued at approximately $706,000.

Other large investors also recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new stake in shares of Plains GP during the third quarter worth approximately $57,000. Eastern Bank bought a new stake in shares of Plains GP during the 3rd quarter worth about $76,000. Continuum Advisory LLC grew its holdings in 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 purchasing an additional 637 shares during the last quarter. Insigneo Advisory Services LLC bought a new position in Plains GP in the 3rd quarter worth approximately $188,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Plains GP during the third quarter worth approximately $200,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Plains GP Trading Down 0.3 %

Shares of NYSE:PAGP traded down $0.06 during trading on Monday, hitting $21.43. 2,601,211 shares of the company's stock were exchanged, compared to its average volume of 1,280,824. The firm has a 50-day moving average price of $19.08 and a two-hundred day moving average price of $18.88. Plains GP Holdings, L.P. has a 1-year low of $15.78 and a 1-year high of $21.73. The firm has a market cap of $4.23 billion, a P/E ratio of 25.21 and a beta of 1.58. 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 declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.38 dividend. This is a positive change from Plains GP's previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.09%. The ex-dividend date is Friday, January 31st. Plains GP's dividend payout ratio (DPR) is currently 149.41%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wolfe Research upgraded 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. Morgan Stanley cut shares of Plains GP from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Wells Fargo & Company cut Plains GP from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. StockNews.com upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Finally, Barclays increased their price target on Plains GP from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Plains GP currently has a consensus rating of "Hold" and a consensus price target of $20.22.

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.