Headlands Technologies LLC Has $304,000 Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Headlands Technologies LLC boosted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 497.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,549 shares of the pipeline company’s stock after purchasing an additional 13,780 shares during the period. Headlands Technologies LLC’s holdings in Plains GP were worth $304,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in Plains GP by 61.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 520 shares in the last quarter. US Bancorp DE grew its stake in shares of Plains GP by 0.7% in the fourth quarter. US Bancorp DE now owns 86,863 shares of the pipeline company’s stock valued at $1,597,000 after buying an additional 598 shares in the last quarter. Continuum Advisory LLC increased its holdings 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. Oppenheimer Asset Management Inc. raised its position in Plains GP by 3.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 25,634 shares of the pipeline company’s stock worth $471,000 after acquiring an additional 748 shares in the last quarter. Finally, Drucker Wealth 3.0 LLC lifted its stake in Plains GP by 1.7% in the third quarter. Drucker Wealth 3.0 LLC now owns 59,110 shares of the pipeline company’s stock valued at $1,094,000 after acquiring an additional 970 shares during the last quarter. Institutional investors own 88.30% of the company’s stock.

Plains GP Price Performance

Shares of Plains GP stock opened at $18.66 on Friday. The company has a 50-day simple moving average of $21.19 and a two-hundred day simple moving average of $19.74. Plains GP Holdings, L.P. has a twelve month low of $17.17 and a twelve month high of $22.31. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 35.21 and a beta of 1.55. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.15%. The ex-dividend date is Thursday, May 1st. Plains GP’s dividend payout ratio (DPR) is currently 286.79%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PAGP shares. Wells Fargo & Company lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Raymond James upped their price objective on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Morgan Stanley increased their price target on Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 25th. Finally, Barclays lifted their price objective on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $21.00.

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.