HF Advisory Group LLC Increases Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

HF Advisory Group LLC grew its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 31.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 138,058 shares of the pipeline company’s stock after acquiring an additional 32,691 shares during the period. Plains GP accounts for approximately 1.2% of HF Advisory Group LLC’s investment portfolio, making the stock its 23rd biggest holding. HF Advisory Group LLC’s holdings in Plains GP were worth $2,538,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Chickasaw Capital Management LLC raised its stake in Plains GP by 24.7% in the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock worth $151,047,000 after buying an additional 1,629,008 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Plains GP during the 3rd quarter worth approximately $13,848,000. Yaupon Capital Management LP bought a new position in shares of Plains GP in the 3rd quarter worth approximately $9,772,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Plains GP in the 2nd quarter valued at approximately $5,734,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Plains GP during the third quarter valued at approximately $4,013,000. 88.30% of the stock is currently owned by institutional investors.

Plains GP Stock Down 0.3 %

Plains GP stock opened at $21.43 on Friday. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 23.54 and a beta of 1.58. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 12 month low of $15.78 and a 12 month high of $21.73. The stock has a fifty day simple moving average of $19.08 and a two-hundred day simple moving average of $18.88.

Plains GP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.38 dividend. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.09%. Plains GP’s payout ratio is 149.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. 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. Wells Fargo & Company lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Morgan Stanley downgraded Plains GP from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Barclays raised their price objective on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.22.

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.