Hsbc Holdings PLC Acquires 482,213 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Hsbc Holdings PLC lifted its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 31.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,036,816 shares of the pipeline company's stock after acquiring an additional 482,213 shares during the quarter. Hsbc Holdings PLC owned 1.03% of Plains GP worth $37,436,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PAGP shares. StockNews.com lowered shares of Plains GP from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Raymond James increased their target price on Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 28th. 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 lifted their target price on shares of Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 25th. Finally, Barclays reduced their target price on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $20.83.

Plains GP Stock Performance

PAGP stock traded down $0.17 during trading hours on Tuesday, hitting $19.27. 918,424 shares of the stock were exchanged, compared to its average volume of 1,556,888. The company has a 50-day simple moving average of $20.17 and a two-hundred day simple moving average of $19.70. Plains GP Holdings, L.P. has a 12 month low of $16.61 and a 12 month high of $22.31. The firm has a market capitalization of $3.81 billion, a P/E ratio of 36.36 and a beta of 1.11. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a $0.38 dividend. The ex-dividend date is Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.89%. Plains GP's payout ratio is currently 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.