D.A. Davidson & CO. Acquires 24,295 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

D.A. Davidson & CO. boosted its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 48.3% in the 4th quarter, Holdings Channel reports. The firm owned 74,626 shares of the pipeline company’s stock after buying an additional 24,295 shares during the period. D.A. Davidson & CO.’s holdings in Plains GP were worth $1,372,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in Plains GP during the fourth quarter worth $33,000. Allworth Financial LP bought a new position in shares of Plains GP in the 4th quarter valued at $44,000. Hara Capital LLC bought a new position in shares of Plains GP in the 3rd quarter valued at $57,000. Eastern Bank bought a new position in shares of Plains GP in the 3rd quarter valued at $76,000. Finally, Continuum Advisory LLC lifted its stake in shares of Plains GP by 10.0% in the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after acquiring an additional 637 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors.

Plains GP Stock Performance

Shares of Plains GP stock opened at $21.68 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $20.26 and a two-hundred day moving average price of $19.24. Plains GP Holdings, L.P. has a 1-year low of $16.90 and a 1-year high of $22.31. The company has a market cap of $4.28 billion, a P/E ratio of 40.91 and a beta of 1.58.

Plains GP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.38 per share. This is an increase from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date of this dividend was Friday, January 31st. Plains GP’s dividend payout ratio (DPR) is presently 286.79%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays increased their price target on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Raymond James increased their price target on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Wolfe Research raised 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. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Plains GP currently has a consensus rating of “Hold” and an average price target of $20.60.

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.