Mark Sheptoff Financial Planning LLC Increases Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Mark Sheptoff Financial Planning LLC lifted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 1,000.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,400 shares of the pipeline company’s stock after acquiring an additional 4,000 shares during the period. Mark Sheptoff Financial Planning LLC’s holdings in Plains GP were worth $81,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PAGP. Modern Wealth Management LLC lifted its stake in Plains GP by 20.1% in the 4th quarter. Modern Wealth Management LLC now owns 36,550 shares of the pipeline company’s stock worth $672,000 after acquiring an additional 6,128 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Plains GP by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company’s stock valued at $58,213,000 after purchasing an additional 288,430 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Plains GP by 4.6% in the 4th quarter. LPL Financial LLC now owns 726,056 shares of the pipeline company’s stock worth $13,345,000 after buying an additional 32,130 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Plains GP during the 4th quarter valued at about $737,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Plains GP during the 4th quarter worth about $728,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Barclays upped their price objective on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Morgan Stanley upped their target price on shares of Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.00.

Plains GP Price Performance

Shares of PAGP opened at $21.52 on Wednesday. Plains GP Holdings, L.P. has a twelve month low of $17.17 and a twelve month high of $22.31. The firm has a 50 day moving average of $21.27 and a 200 day moving average of $19.61. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $4.26 billion, a P/E ratio of 40.60 and a beta of 1.55.

Plains GP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.38 per share. This is an increase from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date was Friday, January 31st. Plains GP’s payout ratio is currently 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.