25,424 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 25,424 shares of the pipeline company’s stock, valued at approximately $406,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Spire Wealth Management grew its position in shares of Plains GP by 63.2% in the 3rd quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company’s stock worth $41,000 after buying an additional 983 shares during the last quarter. Rational Advisors LLC bought a new stake in shares of Plains GP in the 3rd quarter worth approximately $43,000. Allworth Financial LP bought a new stake in shares of Plains GP in the 3rd quarter worth approximately $48,000. Allspring Global Investments Holdings LLC grew its position in shares of Plains GP by 95.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,475 shares of the pipeline company’s stock worth $56,000 after buying an additional 1,697 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Plains GP in the 3rd quarter worth approximately $63,000. 88.30% of the stock is currently owned by institutional investors.

Plains GP Stock Down 0.8 %

Shares of NYSE:PAGP opened at $18.76 on Friday. The stock has a fifty day simple moving average of $18.01 and a two-hundred day simple moving average of $16.72. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 18.39 and a beta of 1.55. Plains GP Holdings, L.P. has a 12-month low of $12.59 and a 12-month high of $19.77. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Plains GP (NYSE:PAGP) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The company had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.88 billion. Plains GP had a net margin of 0.41% and a return on equity of 1.33%. On average, research analysts anticipate that Plains GP Holdings, L.P. will post 1.05 earnings per share for the current fiscal year.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains GP’s payout ratio is 124.51%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PAGP. Citigroup lifted their price objective on Plains GP from $16.50 to $17.50 and gave the stock a “neutral” rating in a research report on Friday, March 1st. The Goldman Sachs Group lifted their price target on Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, April 12th. UBS Group lifted their price target on Plains GP from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Barclays lifted their price target on Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Finally, StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.55.

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.