Venturi Wealth Management LLC Acquires New Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Venturi Wealth Management LLC bought a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,598 shares of the pipeline company’s stock, valued at approximately $103,000.

A number of other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in shares of Plains GP in the 4th quarter valued at $33,000. Allworth Financial LP acquired a new position in Plains GP in the fourth quarter valued at about $44,000. Hara Capital LLC purchased a new position in Plains GP during the third quarter worth about $57,000. Continuum Advisory LLC boosted its stake 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 period. Finally, F&V Capital Management LLC purchased a new stake in shares of Plains GP in the 4th quarter valued at approximately $153,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PAGP has been the subject of a number of research analyst reports. Wells Fargo & Company cut 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 report on Wednesday, December 18th. Barclays raised their price target on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. StockNews.com downgraded Plains GP from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Raymond James raised their target price on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.60.

Plains GP Stock Down 0.7 %

PAGP stock opened at $21.68 on Monday. The company’s 50 day moving average price is $20.26 and its 200 day moving average price is $19.25. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 40.91 and a beta of 1.58. Plains GP Holdings, L.P. has a fifty-two week low of $16.90 and a fifty-two week high of $22.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Plains GP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.01%. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. Plains GP’s dividend payout ratio (DPR) is presently 286.79%.

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.