D.A. Davidson & CO. Acquires 24,295 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

D.A. Davidson & CO. grew its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 48.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 74,626 shares of the pipeline company's stock after buying an additional 24,295 shares during the period. D.A. Davidson & CO.'s holdings in Plains GP were worth $1,372,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PAGP. Golden State Wealth Management LLC acquired a new position in shares of Plains GP in the fourth quarter valued at approximately $33,000. Allworth Financial LP acquired a new position in shares of Plains GP during the 4th quarter worth about $44,000. Hara Capital LLC bought a new stake in Plains GP in the third quarter valued at approximately $57,000. Eastern Bank acquired a new stake in Plains GP during the 3rd quarter valued at $76,000. Finally, Continuum Advisory LLC boosted its holdings 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 buying an additional 637 shares during the period. 88.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PAGP. StockNews.com downgraded Plains GP from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Wells Fargo & Company cut shares of Plains GP from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Raymond James upped 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. Barclays raised their price objective on Plains GP from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Thursday, January 16th. Finally, Wolfe Research upgraded shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Plains GP has an average rating of "Hold" and a consensus price target of $20.60.

Plains GP Stock Down 0.2 %

NYSE PAGP traded down $0.05 during mid-day trading on Wednesday, reaching $21.26. The stock had a trading volume of 322,250 shares, compared to its average volume of 1,957,240. The company has a fifty day moving average price of $20.36 and a 200 day moving average price of $19.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP Holdings, L.P. has a 1 year low of $16.91 and a 1 year high of $22.31. The stock has a market cap of $4.20 billion, a PE ratio of 40.10 and a beta of 1.58.

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 paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.15%. 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 is 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.