Counterpoint Mutual Funds LLC boosted its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 47.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,040 shares of the pipeline company's stock after buying an additional 32,199 shares during the period. Plains GP accounts for about 0.2% of Counterpoint Mutual Funds LLC's investment portfolio, making the stock its 17th biggest holding. Counterpoint Mutual Funds LLC owned approximately 0.05% of Plains GP worth $1,839,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of PAGP. Jones Financial Companies Lllp boosted its position 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 valued at $25,000 after purchasing an additional 520 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Plains GP in the 4th quarter valued at about $33,000. Farther Finance Advisors LLC boosted its holdings 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 buying an additional 2,355 shares in the last quarter. Allworth Financial LP purchased a new position in shares of Plains GP in the 4th quarter worth approximately $44,000. Finally, Atala Financial Inc bought a new position in shares of Plains GP during the 4th quarter worth approximately $90,000. Institutional investors own 88.30% of the company's stock.
Plains GP Stock Performance
Shares of PAGP stock traded down $0.22 during trading hours on Friday, hitting $21.34. The company's stock had a trading volume of 846,881 shares, compared to its average volume of 1,500,615. 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 company has a 50 day moving average of $21.20 and a 200 day moving average of $19.55. Plains GP Holdings, L.P. has a 12-month low of $17.17 and a 12-month high of $22.31. The stock has a market cap of $4.22 billion, a PE ratio of 40.26 and a beta of 1.55.
Plains GP Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 7.12%. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Plains GP's previous quarterly dividend of $0.32. Plains GP's dividend payout ratio is currently 286.79%.
Wall Street Analyst Weigh In
Several research firms have issued reports on PAGP. Wolfe Research raised shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a report on Friday, January 10th. Barclays boosted their target price on Plains GP from $18.00 to $19.00 and gave the stock an "underweight" rating in a research note on Thursday, January 16th. Raymond James increased their price target 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. Wells Fargo & Company lowered Plains GP from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Finally, StockNews.com lowered shares of Plains GP from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Plains GP currently has an average rating of "Hold" and an average price target of $20.60.
Read Our Latest Report on Plains GP
Plains GP Company Profile
(
Free Report)
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.
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