Atala Financial Inc Takes $90,000 Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Atala Financial Inc purchased a new stake in Plains GP Holdings, L.P. (NYSE:PAGP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,874 shares of the pipeline company’s stock, valued at approximately $90,000.

A number of other large investors also recently modified their holdings of the company. Jones Financial Companies Lllp raised its position in Plains GP by 61.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 520 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Plains GP during the 4th quarter worth $33,000. Farther Finance Advisors LLC raised its position in Plains GP by 8,120.7% during the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company’s stock worth $44,000 after purchasing an additional 2,355 shares during the last quarter. Allworth Financial LP bought a new position in Plains GP during the 4th quarter worth $44,000. Finally, Venturi Wealth Management LLC bought a new position in Plains GP during the 4th quarter worth $103,000. 88.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PAGP shares. StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Wells Fargo & Company lowered 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. Raymond James lifted their price objective on Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 28th. Wolfe Research raised 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. Finally, Barclays lifted their price objective on 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 assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Plains GP currently has a consensus rating of “Hold” and an average target price of $20.60.

Plains GP Stock Performance

Shares of PAGP opened at $21.10 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The stock has a 50-day moving average of $21.04 and a 200-day moving average of $19.48. The company has a market cap of $4.17 billion, a PE ratio of 39.81 and a beta of 1.55. Plains GP Holdings, L.P. has a one year low of $17.17 and a one year high of $22.31.

Plains GP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.38 dividend. The ex-dividend date was Friday, January 31st. This is an increase from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.20%. Plains GP’s dividend payout ratio (DPR) is currently 286.79%.

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.