Plains GP Holdings, L.P. (NYSE:PAGP) Holdings Raised by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC increased its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 56.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,260 shares of the pipeline company’s stock after purchasing an additional 15,973 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Plains GP were worth $814,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its holdings in shares of Plains GP by 61.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock worth $25,000 after buying an additional 520 shares during the period. Golden State Wealth Management LLC acquired a new position in Plains GP in the 4th quarter worth approximately $33,000. Farther Finance Advisors LLC grew its position in Plains GP by 8,120.7% during the 4th 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 in the last quarter. Allworth Financial LP purchased a new position in Plains GP during the 4th quarter worth approximately $44,000. Finally, Mark Sheptoff Financial Planning LLC raised its stake in Plains GP by 1,000.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company’s stock valued at $81,000 after purchasing an additional 4,000 shares during the period. Institutional investors and hedge funds 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. Barclays lifted their price target 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 cut 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 research note on Wednesday, December 18th. Morgan Stanley increased their price target on shares of Plains GP from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 25th. StockNews.com downgraded shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, 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. Two equities research 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 company. Based on data from MarketBeat.com, Plains GP has a consensus rating of “Hold” and an average target price of $21.00.

Plains GP Stock Up 0.5 %

Plains GP stock opened at $21.47 on Wednesday. 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 Holdings, L.P. has a 1-year low of $17.17 and a 1-year high of $22.31. The firm’s fifty day simple moving average is $21.28 and its 200-day simple moving average is $19.72. The company has a market capitalization of $4.25 billion, a P/E ratio of 40.51 and a beta of 1.55.

Plains GP Increases Dividend

The business also recently announced 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 a positive change from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.08%. The ex-dividend date was Friday, January 31st. Plains GP’s dividend payout ratio (DPR) is 286.79%.

About Plains GP

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.