Blue Trust Inc. Buys 13,341 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Blue Trust Inc. grew its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 915.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,799 shares of the pipeline company's stock after acquiring an additional 13,341 shares during the quarter. Blue Trust Inc.'s holdings in Plains GP were worth $272,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Van ECK Associates Corp raised its position in Plains GP by 28.8% in the 4th quarter. Van ECK Associates Corp now owns 43,193 shares of the pipeline company's stock worth $794,000 after purchasing an additional 9,646 shares during the period. Avidian Wealth Enterprises LLC increased its holdings in shares of Plains GP by 91.4% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 22,579 shares of the pipeline company's stock worth $415,000 after buying an additional 10,785 shares during the period. Miller Howard Investments Inc. NY lifted its stake in shares of Plains GP by 2.3% in the 4th quarter. Miller Howard Investments Inc. NY now owns 1,535,470 shares of the pipeline company's stock valued at $28,222,000 after acquiring an additional 34,894 shares during the last quarter. Stephens Inc. AR boosted its holdings in Plains GP by 1,862.0% during the 4th quarter. Stephens Inc. AR now owns 207,678 shares of the pipeline company's stock valued at $3,817,000 after acquiring an additional 197,093 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in Plains GP during the 4th quarter worth approximately $33,000. 88.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PAGP shares. StockNews.com lowered Plains GP from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Raymond James increased their price target on shares of Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 28th. Morgan Stanley cut shares of Plains GP from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Barclays increased their target price 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, Wells Fargo & Company downgraded Plains GP from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $20.60.

Plains GP Trading Down 0.7 %

PAGP stock traded down $0.16 during trading on Friday, reaching $21.68. The company had a trading volume of 1,656,648 shares, compared to its average volume of 1,988,454. The business has a 50 day moving average of $20.21 and a 200 day moving average of $19.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The company has a market cap of $4.28 billion, a P/E ratio of 40.91 and a beta of 1.58. Plains GP Holdings, L.P. has a 52 week low of $16.90 and a 52 week high of $22.31.

Plains GP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.01%. The ex-dividend date was Friday, January 31st. This is a boost from Plains GP's previous quarterly dividend of $0.32. Plains GP's dividend payout ratio (DPR) is presently 286.80%.

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.