Duff & Phelps Investment Management Co. Buys 25,000 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Duff & Phelps Investment Management Co. grew its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 31.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 105,103 shares of the pipeline company's stock after buying an additional 25,000 shares during the quarter. Duff & Phelps Investment Management Co. owned 0.05% of Plains GP worth $1,932,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in shares of Plains GP by 8.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,313,974 shares of the pipeline company's stock worth $24,309,000 after buying an additional 103,353 shares during the period. Townsquare Capital LLC lifted its holdings in shares of Plains GP by 1.2% during the third quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company's stock valued at $1,110,000 after acquiring an additional 729 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Plains GP in the 3rd quarter valued at $4,013,000. Infrastructure Capital Advisors LLC bought a new stake in shares of Plains GP in the 3rd quarter worth about $202,000. Finally, Captrust Financial Advisors increased its position in shares of Plains GP by 4.0% during the 3rd quarter. Captrust Financial Advisors now owns 57,596 shares of the pipeline company's stock worth $1,066,000 after purchasing an additional 2,241 shares in the last quarter. 88.30% of the stock is owned by institutional investors.

Plains GP Trading Up 0.6 %

Shares of NYSE:PAGP traded up $0.14 during trading on Wednesday, hitting $21.61. 314,130 shares of the company's stock were exchanged, compared to its average volume of 1,651,597. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a market cap of $4.27 billion, a P/E ratio of 40.76 and a beta of 1.55. The firm has a 50-day moving average price of $21.28 and a two-hundred day moving average price of $19.72. Plains GP Holdings, L.P. has a 1-year low of $17.17 and a 1-year high of $22.31.

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Plains GP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.38 per share. This is a boost from Plains GP's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.52 annualized dividend and a dividend yield of 7.04%. Plains GP's payout ratio is presently 286.79%.

Analysts Set New Price Targets

A number of equities analysts have commented on PAGP shares. Barclays boosted their price target on shares of Plains GP from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Thursday, January 16th. Morgan Stanley increased their price target on Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 25th. Wolfe Research upgraded Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. Raymond James increased 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. Finally, StockNews.com cut Plains GP from a "buy" rating to a "hold" rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Plains GP currently has a consensus rating of "Hold" and a consensus price target of $21.00.

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.