Plains GP Holdings, L.P. (NYSE:PAGP) Shares Purchased by Raymond James & Associates

Raymond James & Associates increased its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 5.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 109,187 shares of the pipeline company’s stock after purchasing an additional 5,408 shares during the quarter. Raymond James & Associates owned 0.06% of Plains GP worth $1,742,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Spire Wealth Management boosted its holdings in Plains GP by 63.2% in the 3rd quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 983 shares during the period. Rational Advisors LLC purchased a new position in Plains GP in the 3rd quarter worth approximately $43,000. Allworth Financial LP purchased a new position in Plains GP in the 3rd quarter worth approximately $48,000. Geneos Wealth Management Inc. boosted its holdings in Plains GP by 60.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company’s stock worth $39,000 after acquiring an additional 1,300 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Plains GP by 95.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,475 shares of the pipeline company’s stock worth $56,000 after acquiring an additional 1,697 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Performance

PAGP stock opened at $18.27 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.60 billion, a P/E ratio of 17.91 and a beta of 1.55. Plains GP Holdings, L.P. has a 12-month low of $12.59 and a 12-month high of $19.77. The stock’s 50 day simple moving average is $17.68 and its 200 day simple moving average is $16.56.

Plains GP (NYSE:PAGP) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.06). The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.88 billion. Plains GP had a net margin of 0.41% and a return on equity of 1.33%. As a group, equities research analysts predict that Plains GP Holdings, L.P. will post 1.02 EPS for the current year.

Plains GP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 6.95%. The ex-dividend date is Tuesday, April 30th. Plains GP’s dividend payout ratio is presently 124.51%.

Analyst Ratings Changes

Several equities analysts have recently commented on PAGP shares. Citigroup increased their target price on Plains GP from $16.50 to $17.50 and gave the company a “neutral” rating in a research note on Friday, March 1st. The Goldman Sachs Group increased their target price on Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, April 12th. UBS Group increased their target price on Plains GP from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, April 12th. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research note on Monday, March 4th. Finally, Stifel Nicolaus increased their target price on Plains GP from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.55.

Plains GP 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.