Plains GP Holdings, L.P. (NYSE:PAGP) Shares Bought by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC raised its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 47.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,040 shares of the pipeline company’s stock after purchasing an additional 32,199 shares during the quarter. Plains GP accounts for approximately 0.2% of Counterpoint Mutual Funds LLC’s portfolio, making the stock its 17th largest position. Counterpoint Mutual Funds LLC owned about 0.05% of Plains GP worth $1,839,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in Plains GP by 61.7% during the 4th 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 acquired a new position in shares of Plains GP in the 4th quarter valued at about $33,000. Farther Finance Advisors LLC increased its position in shares of Plains GP by 8,120.7% in the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company’s stock worth $44,000 after acquiring an additional 2,355 shares in the last quarter. Allworth Financial LP purchased a new position in Plains GP in the 4th quarter worth approximately $44,000. Finally, Atala Financial Inc purchased a new stake in Plains GP during the 4th quarter worth $90,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Plains GP Price Performance

Shares of NYSE:PAGP opened at $21.10 on Monday. The firm has a market capitalization of $4.17 billion, a PE ratio of 39.81 and a beta of 1.55. Plains GP Holdings, L.P. has a 1-year low of $17.17 and a 1-year high of $22.31. 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’s 50 day moving average is $21.04 and its 200-day moving average is $19.49.

Plains GP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.38 per share. The ex-dividend date was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.20%. This is a boost from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s payout ratio is currently 286.79%.

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.