180 Wealth Advisors LLC Acquires 2,000 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

180 Wealth Advisors LLC raised its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 16.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,000 shares of the pipeline company’s stock after acquiring an additional 2,000 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Plains GP were worth $257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAGP. Bank of New York Mellon Corp acquired a new position in Plains GP during the 2nd quarter worth approximately $566,000. Hsbc Holdings PLC grew its position in Plains GP by 6.8% in the 2nd quarter. Hsbc Holdings PLC now owns 1,276,398 shares of the pipeline company’s stock valued at $24,025,000 after purchasing an additional 80,993 shares during the period. Pacer Advisors Inc. raised its holdings in Plains GP by 2.1% during the second quarter. Pacer Advisors Inc. now owns 77,293 shares of the pipeline company’s stock worth $1,455,000 after buying an additional 1,562 shares during the last quarter. Sei Investments Co. bought a new position in shares of Plains GP in the second quarter valued at $2,494,000. Finally, Westwood Holdings Group Inc. grew its holdings in shares of Plains GP by 2.1% during the second quarter. Westwood Holdings Group Inc. now owns 5,393,558 shares of the pipeline company’s stock valued at $101,507,000 after buying an additional 113,098 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Plains GP presently has a consensus rating of “Hold” and an average target price of $20.11.

Plains GP Price Performance

Plains GP stock opened at $20.67 on Thursday. The business has a 50-day simple moving average of $18.92 and a 200 day simple moving average of $18.84. Plains GP Holdings, L.P. has a 52 week low of $15.78 and a 52 week high of $20.95. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 24.32 and a beta of 1.58. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

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 issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.35%. 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 currently 178.82%.

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.