Susquehanna Fundamental Investments LLC Purchases Shares of 355,313 Plains GP Holdings, L.P. (NYSE:PAGP)

Susquehanna Fundamental Investments LLC acquired a new position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 355,313 shares of the pipeline company's stock, valued at approximately $6,531,000. Susquehanna Fundamental Investments LLC owned about 0.18% of Plains GP at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chickasaw Capital Management LLC boosted its stake in Plains GP by 24.7% during the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company's stock valued at $151,047,000 after purchasing an additional 1,629,008 shares during the period. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Plains GP by 8.0% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company's stock worth $229,989,000 after buying an additional 927,855 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Plains GP by 11.7% in the fourth quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company's stock valued at $113,077,000 after acquiring an additional 646,130 shares during the period. Hsbc Holdings PLC boosted its position in shares of Plains GP by 31.0% in the fourth quarter. Hsbc Holdings PLC now owns 2,036,816 shares of the pipeline company's stock valued at $37,436,000 after acquiring an additional 482,213 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Plains GP by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company's stock worth $58,213,000 after acquiring an additional 288,430 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company's stock.

Plains GP Trading Up 0.3 %

PAGP stock opened at $19.39 on Monday. Plains GP Holdings, L.P. has a 1-year low of $16.61 and a 1-year high of $22.31. 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 business's 50 day moving average is $20.22 and its 200-day moving average is $19.70. The firm has a market cap of $3.83 billion, a P/E ratio of 36.59 and a beta of 1.11.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.84%. The ex-dividend date of this dividend is Thursday, May 1st. Plains GP's dividend payout ratio (DPR) is 286.79%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PAGP. Barclays reduced their price target on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a report on Thursday, April 10th. Raymond James increased their target price on shares of Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 28th. StockNews.com lowered Plains GP from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Morgan Stanley raised their price objective on Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 25th. Finally, Wolfe Research upgraded Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 target price for the company in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $20.83.

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.

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