Plains GP Target of Unusually Large Options Trading (NYSE:PAGP)

Plains GP Holdings, L.P. (NYSE:PAGP) saw some unusual options trading on Thursday. Stock investors bought 165,870 call options on the company. This represents an increase of 6,709% compared to the typical daily volume of 2,436 call options.

Plains GP Stock Performance

NYSE:PAGP opened at $20.82 on Friday. The firm has a market capitalization of $4.12 billion, a P/E ratio of 39.28 and a beta of 0.56. Plains GP has a twelve month low of $16.60 and a twelve month high of $22.17. The company has a fifty day moving average of $19.29 and a 200-day moving average of $18.74. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Friday, January 30th. Plains GP’s dividend payout ratio is currently 179.57%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Raymond James Financial reduced their target price on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Friday, October 24th. Barclays decreased their price target on Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 7th. Zacks Research cut shares of Plains GP from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Bank of America lowered shares of Plains GP from a “neutral” rating to an “underperform” rating and set a $19.00 target price on the stock. in a report on Wednesday. Finally, Mizuho set a $23.00 target price on Plains GP in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.14.

Institutional Trading of Plains GP

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Plains GP by 6.1% in the first quarter. Royal Bank of Canada now owns 468,314 shares of the pipeline company’s stock worth $10,003,000 after buying an additional 26,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Plains GP by 8.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 48,891 shares of the pipeline company’s stock valued at $955,000 after acquiring an additional 4,012 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Plains GP by 358.3% during the second quarter. Farther Finance Advisors LLC now owns 12,300 shares of the pipeline company’s stock valued at $239,000 after buying an additional 9,616 shares during the last quarter. PFG Investments LLC lifted its stake in shares of Plains GP by 13.9% in the 2nd quarter. PFG Investments LLC now owns 42,850 shares of the pipeline company’s stock valued at $833,000 after acquiring an additional 5,213 shares during the last quarter. Finally, Founders Capital Management boosted its holdings in Plains GP by 1.2% during the 2nd quarter. Founders Capital Management now owns 67,202 shares of the pipeline company’s stock valued at $1,306,000 after acquiring an additional 797 shares during the period. 88.30% of the stock is currently owned by institutional investors.

Plains GP Company Profile

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.