Plains GP Holdings, L.P. (NYSE:PAGP) Shares Bought by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY boosted its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,535,470 shares of the pipeline company's stock after purchasing an additional 34,894 shares during the quarter. Miller Howard Investments Inc. NY owned about 0.78% of Plains GP worth $28,222,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in shares of Plains GP during the 4th quarter worth $33,000. Hara Capital LLC acquired a new stake in Plains GP during the third quarter worth about $57,000. Eastern Bank purchased a new position in shares of Plains GP in the 3rd quarter worth about $76,000. Continuum Advisory LLC lifted its stake in shares of Plains GP by 10.0% in the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company's stock valued at $127,000 after purchasing an additional 637 shares in the last quarter. Finally, F&V Capital Management LLC purchased a new stake in shares of Plains GP during the 4th quarter worth about $153,000. Institutional investors and hedge funds own 88.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barclays raised their price target on shares of Plains GP from $18.00 to $19.00 and gave the company an "underweight" rating in a report on Thursday, January 16th. StockNews.com lowered shares of Plains GP from a "buy" rating to a "hold" rating in a report on Monday. Wells Fargo & Company downgraded Plains GP from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Raymond James boosted their price objective on Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 28th. Finally, Wolfe Research upgraded Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Plains GP presently has a consensus rating of "Hold" and a consensus price target of $20.60.

Plains GP Stock Down 1.1 %

Shares of Plains GP stock traded down $0.24 on Wednesday, hitting $20.69. 848,153 shares of the company's stock traded hands, compared to its average volume of 2,098,252. Plains GP Holdings, L.P. has a 52-week low of $16.26 and a 52-week high of $22.31. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock has a market cap of $4.09 billion, a P/E ratio of 24.34 and a beta of 1.58. The firm's 50-day moving average is $19.95 and its 200 day moving average is $19.10.

Plains GP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.38 per share. This is a positive change from Plains GP's previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.35%. The ex-dividend date is Friday, January 31st. Plains GP's dividend payout ratio (DPR) is currently 178.82%.

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.