A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Advisor Group Holdings Inc. lifted its position in Plains GP by 14.2% in the first quarter. Advisor Group Holdings Inc. now owns 34,820 shares of the pipeline company’s stock worth $401,000 after purchasing an additional 4,328 shares during the period. JPMorgan Chase & Co. lifted its position in Plains GP by 17.7% in the first quarter. JPMorgan Chase & Co. now owns 694,183 shares of the pipeline company’s stock worth $8,018,000 after purchasing an additional 104,402 shares during the period. Raymond James & Associates lifted its position in Plains GP by 25.3% in the first quarter. Raymond James & Associates now owns 122,270 shares of the pipeline company’s stock worth $1,412,000 after purchasing an additional 24,705 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Plains GP by 2.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 144,458 shares of the pipeline company’s stock worth $1,668,000 after purchasing an additional 3,414 shares during the period. Finally, American Century Companies Inc. lifted its position in Plains GP by 278.0% in the first quarter. American Century Companies Inc. now owns 56,806 shares of the pipeline company’s stock worth $656,000 after purchasing an additional 41,777 shares during the period. 83.68% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on PAGP. Barclays upped their price target on Plains GP from $13.00 to $15.00 in a report on Tuesday, April 18th. JPMorgan Chase & Co. upped their price target on Plains GP from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, March 9th. StockNews.com began coverage on Plains GP in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Raymond James raised Plains GP from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $16.00 to $17.00 in a report on Friday, April 21st. Finally, UBS Group upped their price target on Plains GP from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.73.
Plains GP Stock Performance
Shares of PAGP traded up $0.31 during trading hours on Friday, reaching $14.09. 1,563,153 shares of the company traded hands, compared to its average volume of 2,707,198. The stock’s fifty day moving average is $13.53 and its 200 day moving average is $13.14. The stock has a market cap of $2.74 billion, a P/E ratio of 12.53 and a beta of 1.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 0.95. Plains GP Holdings, L.P. has a 1-year low of $9.39 and a 1-year high of $14.36.
Plains GP Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 1st were given a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 7.59%. The ex-dividend date was Friday, April 28th. Plains GP’s dividend payout ratio is currently 97.27%.
Insider Activity
In other Plains GP news, CEO Willie Cw Chiang purchased 75,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was purchased at an average price of $13.25 per share, with a total value of $993,750.00. Following the completion of the transaction, the chief executive officer now directly owns 256,704 shares of the company’s stock, valued at approximately $3,401,328. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.77% of the stock is owned by company insiders.
Plains GP Company Profile
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Plains GP Holdings LP owns and operates midstream energy infrastructure and provides logistics services primarily for crude oil, natural gas liquids and natural gas through its indirect investment in Plains All American Pipeline, L.P. The firm operates through the following segments: Transportation, Facilities and Supply and Logistics.
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