283,651 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 283,651 shares of the pipeline company's stock, valued at approximately $5,214,000. Raymond James Financial Inc. owned about 0.14% of Plains GP as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in Plains GP by 61.7% in the 4th 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 period. Golden State Wealth Management LLC purchased a new position in Plains GP in the 4th quarter worth $33,000. Allworth Financial LP purchased a new position in Plains GP in the 4th quarter worth $44,000. Farther Finance Advisors LLC raised its position in 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 worth $44,000 after purchasing an additional 2,355 shares during the period. Finally, Mark Sheptoff Financial Planning LLC raised its position in 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 purchasing an additional 4,000 shares during the period. Hedge funds and other institutional investors own 88.30% of the company's stock.

Plains GP Stock Up 0.3 %

Shares of NYSE:PAGP traded up $0.05 during trading on Monday, hitting $19.44. The stock had a trading volume of 875,338 shares, compared to its average volume of 1,559,443. Plains GP Holdings, L.P. has a 12 month low of $16.61 and a 12 month high of $22.31. The company has a market capitalization of $3.84 billion, a PE ratio of 36.68 and a beta of 1.11. The firm's fifty day moving average is $20.17 and its 200 day moving average is $19.70. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 annualized dividend and a dividend yield of 7.82%. Plains GP's payout ratio is currently 286.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Raymond James boosted their price objective on shares of Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research report 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 price objective on the stock in a research report on Friday, January 10th. Barclays decreased their price objective on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley boosted their price objective 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, StockNews.com cut shares of Plains GP from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Plains GP presently has a consensus rating of "Hold" and an average target price of $20.83.

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.