D.A. Davidson & CO. Has $1.37 Million Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

D.A. Davidson & CO. boosted its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 48.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,626 shares of the pipeline company’s stock after buying an additional 24,295 shares during the quarter. D.A. Davidson & CO.’s holdings in Plains GP were worth $1,372,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PAGP. Golden State Wealth Management LLC acquired a new position in Plains GP during the fourth quarter worth approximately $33,000. Allworth Financial LP acquired a new position in Plains GP during the fourth quarter worth approximately $44,000. Hara Capital LLC acquired a new position in Plains GP during the third quarter worth approximately $57,000. Eastern Bank acquired a new position in Plains GP during the third quarter worth approximately $76,000. Finally, Continuum Advisory LLC increased its position in Plains GP by 10.0% during the third quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock worth $127,000 after buying an additional 637 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Trading Down 0.7 %

Shares of NYSE:PAGP opened at $21.68 on Friday. The company has a market capitalization of $4.28 billion, a P/E ratio of 40.91 and a beta of 1.58. Plains GP Holdings, L.P. has a 1 year low of $16.90 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. The business’s 50 day simple moving average is $20.26 and its 200 day simple moving average is $19.24.

Plains GP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.38 per share. The ex-dividend date was Friday, January 31st. This is a boost from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.01%. Plains GP’s dividend payout ratio is presently 286.79%.

Analyst Ratings Changes

Several research firms have recently commented on PAGP. Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Friday, January 10th. Wells Fargo & Company downgraded Plains GP from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Raymond James upped their target price on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th. Barclays upped their target price on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Finally, StockNews.com downgraded Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Plains GP currently has a consensus rating of “Hold” and a consensus price target of $20.60.

Plains GP 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.