Plains GP Holdings, L.P. (NYSE:PAGP) Shares Purchased by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC lifted its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 11.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,283 shares of the pipeline company’s stock after acquiring an additional 1,146 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Plains GP were worth $207,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. XTX Topco Ltd boosted its position in shares of Plains GP by 137.0% in the 4th quarter. XTX Topco Ltd now owns 34,058 shares of the pipeline company’s stock valued at $626,000 after purchasing an additional 19,688 shares during the period. Barclays PLC boosted its holdings in shares of Plains GP by 7.9% in the fourth quarter. Barclays PLC now owns 890,577 shares of the pipeline company’s stock worth $16,370,000 after buying an additional 65,080 shares during the period. Advisors Capital Management LLC increased its position in shares of Plains GP by 2.3% in the fourth quarter. Advisors Capital Management LLC now owns 2,403,410 shares of the pipeline company’s stock worth $44,175,000 after acquiring an additional 53,273 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Plains GP during the fourth quarter valued at approximately $5,214,000. Finally, ELCO Management Co. LLC lifted its position in shares of Plains GP by 2.4% in the 4th quarter. ELCO Management Co. LLC now owns 33,954 shares of the pipeline company’s stock valued at $624,000 after acquiring an additional 802 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Price Performance

Shares of PAGP opened at $18.93 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a market cap of $3.74 billion, a PE ratio of 35.72 and a beta of 1.11. The firm’s 50 day moving average price is $20.43 and its 200 day moving average price is $19.68. Plains GP Holdings, L.P. has a twelve month low of $16.61 and a twelve month high of $22.31.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.03%. Plains GP’s dividend payout ratio is currently 286.79%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PAGP. Barclays cut their target price on shares of Plains GP from $19.00 to $18.00 and set an “underweight” rating on the stock in a research note on Thursday, April 10th. StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Raymond James upped 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. Wolfe Research upgraded shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Friday, January 10th. Finally, Morgan Stanley increased their target price 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. One analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.83.

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.