Plains GP Holdings, L.P. (NYSE:PAGP) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 2.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,057 shares of the pipeline company’s stock after purchasing an additional 1,719 shares during the period. Russell Investments Group Ltd.’s holdings in Plains GP were worth $1,361,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PAGP. Jones Financial Companies Lllp grew its position in shares of Plains GP by 61.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 520 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Plains GP during the fourth quarter worth $33,000. Allworth Financial LP acquired a new position in Plains GP in the fourth quarter worth $44,000. Farther Finance Advisors LLC increased its stake in Plains GP by 8,120.7% during the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company’s stock valued at $44,000 after purchasing an additional 2,355 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its stake in Plains GP by 1,000.0% during the fourth 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 last quarter. 88.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PAGP. Wolfe Research raised 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. Barclays decreased their target price on Plains GP from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Thursday, April 10th. Raymond James increased their price target on Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 28th. StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Finally, Morgan Stanley increased their target price on 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.83.

Plains GP Stock Performance

Shares of NYSE PAGP opened at $18.93 on Monday. Plains GP Holdings, L.P. has a 12-month low of $16.61 and a 12-month 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 company has a market cap of $3.74 billion, a PE ratio of 35.72 and a beta of 1.11. The stock has a 50 day simple moving average of $20.43 and a 200-day simple moving average of $19.69.

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. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.03%. The ex-dividend date of this dividend is Thursday, May 1st. Plains GP’s dividend payout ratio (DPR) is 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.