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

Plains GP Holdings, L.P. (NYSE:PAGP) was the recipient of some unusual options trading on Thursday. Stock investors purchased 10,187 call options on the stock. This represents an increase of approximately 685% compared to the typical daily volume of 1,297 call options.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PAGP. Barclays boosted their target price on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday. Wolfe Research upgraded shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Morgan Stanley cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Plains GP presently has an average rating of “Hold” and a consensus target price of $20.22.

Hedge Funds Weigh In On Plains GP

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hara Capital LLC purchased a new position in shares of Plains GP in the third quarter valued at $57,000. Eastern Bank acquired a new stake in Plains GP in the 3rd quarter valued at about $76,000. Continuum Advisory LLC increased its holdings in Plains GP by 10.0% during the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after acquiring an additional 637 shares in the last quarter. Insigneo Advisory Services LLC acquired a new position in Plains GP during the third quarter worth about $188,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in Plains GP during the third quarter worth about $200,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Plains GP Trading Down 0.3 %

Shares of PAGP opened at $21.43 on Friday. Plains GP has a twelve month low of $15.78 and a twelve month high of $21.73. 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 firm has a market capitalization of $4.23 billion, a P/E ratio of 23.54 and a beta of 1.58. The firm’s 50-day moving average is $19.08 and its two-hundred day moving average is $18.89.

Plains GP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.38 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.09%. This is a boost from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s dividend payout ratio is currently 149.41%.

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.