LPL Financial LLC Purchases 32,130 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

LPL Financial LLC grew its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 726,056 shares of the pipeline company's stock after purchasing an additional 32,130 shares during the quarter. LPL Financial LLC owned approximately 0.37% of Plains GP worth $13,345,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings 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 buying an additional 520 shares during the period. US Bancorp DE boosted its holdings in Plains GP by 0.7% during the 4th quarter. US Bancorp DE now owns 86,863 shares of the pipeline company's stock valued at $1,597,000 after acquiring an additional 598 shares during the period. Continuum Advisory LLC grew its position in Plains GP by 10.0% during the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company's stock worth $127,000 after acquiring an additional 637 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Plains GP by 3.0% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 25,634 shares of the pipeline company's stock worth $471,000 after purchasing an additional 748 shares during the period. Finally, Drucker Wealth 3.0 LLC increased its stake in Plains GP by 1.7% in the 3rd quarter. Drucker Wealth 3.0 LLC now owns 59,110 shares of the pipeline company's stock worth $1,094,000 after purchasing an additional 970 shares during the period. 88.30% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company cut shares of Plains GP from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Morgan Stanley raised their price target on shares of Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 25th. Wolfe Research raised shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a research note on Friday, January 10th. StockNews.com cut Plains GP from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Finally, Raymond James upped their price target on Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $21.00.

Plains GP Stock Down 5.0 %

PAGP traded down $0.94 during midday trading on Monday, reaching $17.72. The company's stock had a trading volume of 3,642,728 shares, compared to its average volume of 1,586,542. Plains GP Holdings, L.P. has a 1 year low of $17.17 and a 1 year high of $22.31. The stock's 50-day moving average is $21.12 and its 200-day moving average is $19.74. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 33.43 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 Announces Dividend

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 issued a dividend of $0.38 per share. The ex-dividend date is Thursday, May 1st. This represents a $1.52 annualized dividend and a dividend yield of 8.58%. Plains GP's payout ratio is presently 286.79%.

About Plains GP

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.