Plato Investment Management Ltd Boosts Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Plato Investment Management Ltd lifted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 144.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,812 shares of the pipeline company's stock after purchasing an additional 21,146 shares during the quarter. Plato Investment Management Ltd's holdings in Plains GP were worth $661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PAGP. Jones Financial Companies Lllp increased its stake in shares of Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock valued at $25,000 after purchasing an additional 520 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Plains GP during the 4th quarter valued at approximately $33,000. Allworth Financial LP purchased a new position in Plains GP during the fourth quarter valued at $44,000. Hara Capital LLC bought a new stake in Plains GP in the third quarter worth $57,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Plains GP in the fourth quarter worth $103,000. Institutional investors own 88.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PAGP. Wolfe Research raised Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research report on Friday, January 10th. Wells Fargo & Company cut shares of Plains GP from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Barclays increased 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. Raymond James boosted their price objective on shares of 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 downgraded Plains GP from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $20.60.

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Plains GP Stock Performance

PAGP traded up $0.30 during mid-day trading on Friday, reaching $20.70. 1,350,940 shares of the company traded hands, compared to its average volume of 1,518,958. The company's fifty day moving average price is $20.79 and its 200-day moving average price is $19.41. The stock has a market capitalization of $4.09 billion, a P/E ratio of 39.06 and a beta of 1.55. 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 52-week low of $17.17 and a 52-week high of $22.31.

Plains GP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date was Friday, January 31st. This is a boost from Plains GP's previous quarterly dividend of $0.32. Plains GP's dividend payout ratio is 286.79%.

Plains GP 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.