ProVise Management Group LLC Sells 9,994 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

ProVise Management Group LLC lessened its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 6.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,294 shares of the pipeline company’s stock after selling 9,994 shares during the quarter. ProVise Management Group LLC’s holdings in Plains GP were worth $2,579,000 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. Jones Financial Companies Lllp boosted its position in Plains GP by 61.7% during 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 period. Golden State Wealth Management LLC bought a new position in Plains GP during the fourth quarter worth about $33,000. Farther Finance Advisors LLC boosted its position in Plains GP by 8,120.7% during 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 period. Allworth Financial LP purchased a new stake in shares of Plains GP in the fourth quarter worth about $44,000. Finally, Atala Financial Inc purchased a new stake in shares of Plains GP in the fourth quarter worth about $90,000. Institutional investors own 88.30% of the company’s stock.

Plains GP Trading Down 0.6 %

PAGP stock opened at $21.27 on Wednesday. The company has a market capitalization of $4.21 billion, a PE ratio of 40.13 and a beta of 1.55. Plains GP Holdings, L.P. has a one year low of $17.17 and a one year high of $22.31. The company’s 50 day moving average price is $21.14 and its two-hundred day moving average price is $19.52. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

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 paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.15%. Plains GP’s dividend payout ratio (DPR) is 286.79%.

Analyst Upgrades and Downgrades

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

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.