Stephens Inc. AR Has $3.82 Million Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Stephens Inc. AR boosted its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 1,862.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 207,678 shares of the pipeline company's stock after purchasing an additional 197,093 shares during the period. Stephens Inc. AR owned about 0.11% of Plains GP worth $3,817,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in Plains GP during the fourth quarter worth approximately $33,000. Hara Capital LLC acquired a new stake in Plains GP during the third quarter worth approximately $57,000. Eastern Bank acquired a new stake in Plains GP during the third quarter worth approximately $76,000. Continuum Advisory LLC lifted its position in Plains GP by 10.0% during the third 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. Finally, F&V Capital Management LLC acquired a new stake in Plains GP during the fourth quarter worth approximately $153,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company downgraded shares of Plains GP from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Morgan Stanley cut shares of Plains GP from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Barclays raised their target price on shares of Plains GP from $18.00 to $19.00 and gave the stock an "underweight" rating in a report on Thursday, January 16th. Raymond James raised their target price 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, Wolfe Research raised shares of 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $20.60.

Plains GP Price Performance

NYSE:PAGP traded up $0.19 during mid-day trading on Friday, reaching $21.10. The stock had a trading volume of 1,135,881 shares, compared to its average volume of 2,027,616. The stock has a 50-day simple moving average of $20.00 and a two-hundred day simple moving average of $19.13. The stock has a market capitalization of $4.17 billion, a PE ratio of 24.82 and a beta of 1.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP Holdings, L.P. has a 12 month low of $16.36 and a 12 month high of $22.31.

Plains GP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.20%. This is a boost from Plains GP's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, January 31st. Plains GP's dividend payout ratio (DPR) is 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.