Avantax Advisory Services Inc. Has $737,000 Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Avantax Advisory Services Inc. raised its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 17.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,124 shares of the pipeline company’s stock after acquiring an additional 5,949 shares during the period. Avantax Advisory Services Inc.’s holdings in Plains GP were worth $737,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PAGP. Jones Financial Companies Lllp increased its holdings 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 valued at $25,000 after buying an additional 520 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Plains GP in the 4th quarter valued at approximately $33,000. Allworth Financial LP bought a new position in shares of Plains GP during the 4th quarter worth approximately $44,000. Farther Finance Advisors LLC boosted its stake 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 valued at $44,000 after buying an additional 2,355 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in Plains GP in the 4th quarter valued at $103,000. Institutional investors own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PAGP. Wolfe Research upgraded shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Friday, January 10th. Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Raymond James upped their price target on shares of Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 28th. StockNews.com cut shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Barclays boosted their target price on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.60.

Plains GP Price Performance

PAGP opened at $21.34 on Friday. The company has a fifty day moving average price of $21.23 and a two-hundred day moving average price of $19.56. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a market capitalization of $4.22 billion, a PE ratio of 40.26 and a beta of 1.55. Plains GP Holdings, L.P. has a 52 week low of $17.17 and a 52 week high of $22.31.

Plains GP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date was Friday, January 31st. This is an increase from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s dividend payout ratio is currently 286.79%.

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.