Ashton Thomas Private Wealth LLC Takes $562,000 Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Ashton Thomas Private Wealth LLC bought a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 30,573 shares of the pipeline company’s stock, valued at approximately $562,000.

A number of other hedge funds also recently added to or reduced their stakes in PAGP. Jones Financial Companies Lllp raised its position 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 purchasing an additional 520 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Plains GP in the fourth quarter valued at approximately $33,000. Allworth Financial LP purchased a new position in Plains GP in the fourth quarter worth approximately $44,000. Venturi Wealth Management LLC acquired a new position in Plains GP during the 4th quarter worth approximately $103,000. Finally, Continuum Advisory LLC grew its holdings in Plains GP by 10.0% during the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock worth $127,000 after acquiring an additional 637 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Price Performance

Shares of NYSE PAGP opened at $20.75 on Tuesday. 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 cap of $4.10 billion, a P/E ratio of 39.15 and a beta of 1.55. The stock has a 50 day moving average of $20.84 and a two-hundred day moving average of $19.43. Plains GP Holdings, L.P. has a twelve month low of $17.17 and a twelve month high of $22.31.

Plains GP Increases Dividend

The firm also recently declared 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. The ex-dividend date was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.33%. This is a boost from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s dividend payout ratio is currently 286.79%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. StockNews.com downgraded Plains GP from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Wells Fargo & Company downgraded Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Barclays boosted their target price on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Finally, Raymond James increased their price target 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. 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 company’s stock. According to MarketBeat, Plains GP currently has an average rating of “Hold” and a consensus price target of $20.60.

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.