UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 1,997 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 424,072 shares of the pipeline company’s stock after purchasing an additional 1,997 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Plains GP were worth $7,794,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PAGP. Jones Financial Companies Lllp grew its holdings in Plains GP by 61.7% in the fourth 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 last quarter. Golden State Wealth Management LLC purchased a new position in Plains GP in the fourth quarter worth $33,000. Farther Finance Advisors LLC grew its holdings in Plains GP by 8,120.7% in the fourth 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 last quarter. Allworth Financial LP purchased a new position in Plains GP in the fourth quarter worth $44,000. Finally, Mark Sheptoff Financial Planning LLC grew its holdings in Plains GP by 1,000.0% in the fourth 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 last quarter. Institutional investors own 88.30% of the company’s stock.

Plains GP Price Performance

Shares of PAGP opened at $17.63 on Monday. The firm has a market capitalization of $3.49 billion, a PE ratio of 33.26 and a beta of 0.68. 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 1-year low of $16.61 and a 1-year high of $22.31. The company’s fifty day moving average price is $18.68 and its 200-day moving average price is $19.69.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 8.62%. The ex-dividend date was Thursday, May 1st. Plains GP’s payout ratio is 205.41%.

Analyst Upgrades and Downgrades

PAGP has been the topic of several analyst reports. Citigroup cut their price target on shares of Plains GP from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Mizuho cut their price target on shares of Plains GP from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, May 20th. Wall Street Zen raised shares of Plains GP from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Morgan Stanley lifted their price target on shares of Plains GP from $19.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 25th. Finally, Barclays dropped their price objective on shares of Plains GP from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.71.

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.