1,800 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Purchased by Golden State Wealth Management LLC

Golden State Wealth Management LLC acquired a new stake in Plains GP Holdings, L.P. (NYSE:PAGP) in the fourth quarter, Holdings Channel reports. The fund acquired 1,800 shares of the pipeline company’s stock, valued at approximately $33,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PAGP. State Street Corp boosted its stake in shares of Plains GP by 17.1% in the third quarter. State Street Corp now owns 640,918 shares of the pipeline company’s stock valued at $11,857,000 after buying an additional 93,643 shares during the period. Custom Index Systems LLC bought a new stake in shares of Plains GP during the 4th quarter valued at $265,000. Chickasaw Capital Management LLC grew its holdings in shares of 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 worth $151,047,000 after purchasing an additional 1,629,008 shares in the last quarter. Vestcor Inc increased its position in shares of Plains GP by 79.1% in the third quarter. Vestcor Inc now owns 78,442 shares of the pipeline company’s stock worth $1,451,000 after purchasing an additional 34,633 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in Plains GP by 1.2% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock valued at $80,900,000 after purchasing an additional 53,000 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Performance

Plains GP stock opened at $20.93 on Wednesday. The business has a 50 day moving average of $19.93 and a 200-day moving average of $19.09. 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 $16.22 and a 1 year high of $22.31. The company has a market capitalization of $4.13 billion, a P/E ratio of 24.62 and a beta of 1.58.

Plains GP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, January 31st. This represents a $1.52 annualized dividend and a dividend yield of 7.26%. This is an increase from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s dividend payout ratio (DPR) is presently 178.82%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PAGP. Wells Fargo & Company downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Raymond James lifted their price objective 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 downgraded Plains GP from a “buy” rating to a “hold” rating in a report on Monday. Barclays boosted their price target on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Finally, Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.60.

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.