Plains GP Holdings, L.P. (NYSE:PAGP) Shares Purchased by Headlands Technologies LLC

Headlands Technologies LLC boosted its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 497.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 16,549 shares of the pipeline company's stock after acquiring an additional 13,780 shares during the period. Headlands Technologies LLC's holdings in Plains GP were worth $304,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its holdings in shares of Plains GP by 61.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock worth $25,000 after buying an additional 520 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Plains GP during the fourth quarter worth $33,000. Allworth Financial LP purchased a new stake in Plains GP in the fourth quarter valued at $44,000. Farther Finance Advisors LLC lifted its stake in shares of Plains GP by 8,120.7% in the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock valued at $44,000 after purchasing an additional 2,355 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC lifted its stake in shares of Plains GP by 1,000.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company's stock valued at $81,000 after purchasing an additional 4,000 shares during the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PAGP has been the subject of several research analyst reports. Morgan Stanley raised 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. StockNews.com cut shares of Plains GP from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Raymond James upped their target price on shares of Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 28th. Wells Fargo & Company cut 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 report on Wednesday, December 18th. Finally, Barclays cut their price objective on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $20.67.

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Plains GP Trading Down 5.0 %

Shares of PAGP traded down $0.91 on Thursday, hitting $17.38. 826,034 shares of the stock traded hands, compared to its average volume of 1,808,251. The firm has a market capitalization of $3.44 billion, a P/E ratio of 32.79 and a beta of 1.11. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 1 year low of $16.60 and a 1 year high of $22.31. The stock's 50 day moving average is $20.80 and its two-hundred day moving average is $19.69.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 8.75%. Plains GP's dividend payout ratio (DPR) 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.