Plains GP Holdings, L.P. (NYSE:PAGP) Shares Purchased by Linscomb Wealth Inc.

Linscomb Wealth Inc. boosted its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 9.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 341,332 shares of the pipeline company’s stock after buying an additional 28,232 shares during the period. Linscomb Wealth Inc. owned approximately 0.17% of Plains GP worth $6,274,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in Plains GP by 1.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock worth $720,000 after purchasing an additional 717 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in Plains GP during the 3rd quarter worth about $200,000. Golden State Equity Partners lifted its stake in Plains GP by 21.6% during the 3rd quarter. Golden State Equity Partners now owns 12,449 shares of the pipeline company’s stock worth $230,000 after acquiring an additional 2,214 shares in the last quarter. US Bancorp DE boosted its holdings in Plains GP by 4.8% during the 3rd quarter. US Bancorp DE now owns 86,265 shares of the pipeline company’s stock valued at $1,596,000 after acquiring an additional 3,927 shares during the period. Finally, Chicago Partners Investment Group LLC grew its position in Plains GP by 2.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 171,529 shares of the pipeline company’s stock valued at $3,117,000 after acquiring an additional 4,886 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analysts Set New Price Targets

PAGP has been the subject of several recent research reports. StockNews.com lowered shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Barclays increased their target price on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Wells Fargo & Company downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Friday, January 10th. Finally, Raymond James lifted their target price on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.60.

Plains GP Stock Down 0.7 %

Shares of NYSE PAGP opened at $21.18 on Friday. The business has a 50-day moving average of $20.49 and a two-hundred day moving average of $19.32. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 39.96 and a beta of 1.58. Plains GP Holdings, L.P. has a 1 year low of $17.03 and a 1 year high of $22.31. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Plains GP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.38 per share. This is a boost from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.18%. Plains GP’s payout ratio is presently 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.