Plains GP Holdings, L.P. (NYSE:PAGP) Stock Position Raised by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC raised its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 91.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,579 shares of the pipeline company’s stock after purchasing an additional 10,785 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Plains GP were worth $415,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Continuum Advisory LLC raised 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 in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Plains GP by 1.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock valued at $720,000 after acquiring an additional 717 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Plains GP by 1.2% in the 3rd quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock valued at $1,110,000 after acquiring an additional 729 shares in the last quarter. Drucker Wealth 3.0 LLC raised its stake in shares of Plains GP by 1.7% in the 3rd quarter. Drucker Wealth 3.0 LLC now owns 59,110 shares of the pipeline company’s stock valued at $1,094,000 after acquiring an additional 970 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in shares of Plains GP by 10.3% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 11,925 shares of the pipeline company’s stock valued at $219,000 after acquiring an additional 1,112 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Price Performance

Shares of NYSE:PAGP opened at $20.91 on Friday. Plains GP Holdings, L.P. has a 1-year low of $16.36 and a 1-year high of $22.31. The firm has a market capitalization of $4.13 billion, a PE ratio of 24.60 and a beta of 1.58. The business’s 50 day moving average is $19.98 and its 200-day moving average is $19.11. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

Plains GP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.38 dividend. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.27%. Plains GP’s payout ratio is currently 178.82%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Friday, January 10th. Raymond James raised their target price on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Barclays raised their target price on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $19.00 in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus 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.