Raymond James & Associates Has $1.74 Million Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Raymond James & Associates lifted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 5.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 109,187 shares of the pipeline company’s stock after purchasing an additional 5,408 shares during the quarter. Raymond James & Associates’ holdings in Plains GP were worth $1,742,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Chickasaw Capital Management LLC boosted its stake in Plains GP by 6.9% in the 4th quarter. Chickasaw Capital Management LLC now owns 6,632,388 shares of the pipeline company’s stock valued at $105,787,000 after buying an additional 429,179 shares in the last quarter. Requisite Capital Management LLC boosted its stake in Plains GP by 36.1% in the 3rd quarter. Requisite Capital Management LLC now owns 58,783 shares of the pipeline company’s stock valued at $948,000 after buying an additional 15,591 shares in the last quarter. Cambria Investment Management L.P. boosted its stake in Plains GP by 7.1% in the 3rd quarter. Cambria Investment Management L.P. now owns 707,543 shares of the pipeline company’s stock valued at $11,406,000 after buying an additional 46,844 shares in the last quarter. ProVise Management Group LLC boosted its stake in Plains GP by 13.0% in the 3rd quarter. ProVise Management Group LLC now owns 333,584 shares of the pipeline company’s stock valued at $5,377,000 after buying an additional 38,407 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in Plains GP by 55.6% in the 3rd quarter. Schroder Investment Management Group now owns 390,846 shares of the pipeline company’s stock valued at $6,300,000 after buying an additional 139,701 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on PAGP shares. The Goldman Sachs Group boosted their price target on Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, April 12th. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. Barclays lifted their price objective on Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. UBS Group lifted their price objective on Plains GP from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, Scotiabank started coverage on Plains GP in a research report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.55.

Plains GP Trading Up 0.2 %

PAGP stock opened at $18.27 on Thursday. The company has a market cap of $3.60 billion, a P/E ratio of 17.91 and a beta of 1.55. Plains GP Holdings, L.P. has a twelve month low of $12.59 and a twelve month high of $19.77. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average of $17.68 and a 200-day moving average of $16.56.

Plains GP (NYSE:PAGP) last released its earnings results on Friday, February 9th. The pipeline company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.88 billion. Plains GP had a return on equity of 1.33% and a net margin of 0.41%. As a group, equities research analysts expect that Plains GP Holdings, L.P. will post 1.02 EPS for the current year.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.3175 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a yield of 6.95%. Plains GP’s dividend payout ratio is presently 124.51%.

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.