Voleon Capital Management LP Invests $7.42 Million in Plains GP Holdings, L.P. (NYSE:PAGP)

Voleon Capital Management LP bought a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 403,615 shares of the pipeline company’s stock, valued at approximately $7,418,000.

A number of other hedge funds also recently made changes to their positions in the business. Jones Financial Companies Lllp raised its stake in Plains GP by 61.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 520 shares during the period. Golden State Wealth Management LLC bought a new stake in Plains GP in the 4th quarter valued at about $33,000. Farther Finance Advisors LLC raised its stake in Plains GP by 8,120.7% in the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company’s stock valued at $44,000 after acquiring an additional 2,355 shares during the period. Allworth Financial LP bought a new stake in Plains GP in the 4th quarter valued at about $44,000. Finally, Mark Sheptoff Financial Planning LLC raised its stake in Plains GP by 1,000.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company’s stock valued at $81,000 after acquiring an additional 4,000 shares during the period. 88.30% of the stock is currently owned by institutional investors.

Plains GP Stock Down 0.9 %

Shares of NYSE:PAGP opened at $19.27 on Wednesday. The firm has a fifty day moving average price of $20.12 and a two-hundred day moving average price of $19.70. 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 Holdings, L.P. has a one year low of $16.61 and a one year high of $22.31. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 36.36 and a beta of 1.11.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 7.89%. The ex-dividend date of this dividend is Thursday, May 1st. Plains GP’s dividend payout ratio (DPR) is currently 286.79%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PAGP. StockNews.com cut Plains GP from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. 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. Morgan Stanley upped their price target on Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 25th. Barclays cut their price objective on shares of Plains GP from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Thursday, April 10th. Finally, Raymond James increased their target price on shares of Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.83.

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.