Drucker Wealth 3.0 LLC Has $1.06 Million Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Drucker Wealth 3.0 LLC decreased its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,806 shares of the pipeline company’s stock after selling 1,304 shares during the period. Drucker Wealth 3.0 LLC’s holdings in Plains GP were worth $1,062,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PAGP. Custom Index Systems LLC acquired a new position in shares of Plains GP during the fourth quarter valued at about $265,000. Plato Investment Management Ltd raised its position in shares of Plains GP by 144.2% during the fourth quarter. Plato Investment Management Ltd now owns 35,812 shares of the pipeline company’s stock valued at $661,000 after buying an additional 21,146 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Plains GP during the fourth quarter valued at about $380,000. Leisure Capital Management acquired a new position in shares of Plains GP during the fourth quarter valued at about $931,000. Finally, Bank of Montreal Can raised its position in shares of Plains GP by 36.4% during the fourth quarter. Bank of Montreal Can now owns 43,284 shares of the pipeline company’s stock valued at $796,000 after buying an additional 11,541 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Price Performance

Shares of Plains GP stock opened at $17.81 on Friday. 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 stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 33.60 and a beta of 0.68. Plains GP Holdings, L.P. has a 1-year low of $16.61 and a 1-year high of $22.31. The firm’s 50-day moving average price is $19.05 and its two-hundred day moving average price is $19.69.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 annualized dividend and a yield of 8.53%. Plains GP’s dividend payout ratio is 205.41%.

Analysts Set New Price Targets

A number of research analysts have recently commented on PAGP shares. 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. Wall Street Zen raised shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Mizuho cut their price objective on shares of Plains GP from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday. Raymond James upped their target price on shares of Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Citigroup lowered their target price on shares of Plains GP from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Plains GP presently has a consensus rating of “Moderate Buy” and an average target price of $20.71.

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.