Csenge Advisory Group Purchases 1,415 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Csenge Advisory Group raised its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,757 shares of the pipeline company’s stock after buying an additional 1,415 shares during the quarter. Csenge Advisory Group’s holdings in Plains GP were worth $418,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PAGP. Global Retirement Partners LLC lifted its position in Plains GP by 1,430.7% during the third quarter. Global Retirement Partners LLC now owns 19,042 shares of the pipeline company’s stock valued at $352,000 after acquiring an additional 17,798 shares during the last quarter. Eastern Bank acquired a new position in shares of Plains GP during the third quarter worth $76,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of Plains GP by 1.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock valued at $80,900,000 after purchasing an additional 53,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Plains GP by 1.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock worth $720,000 after purchasing an additional 717 shares in the last quarter. Finally, Inscription Capital LLC grew its stake in Plains GP by 4.2% during the 3rd quarter. Inscription Capital LLC now owns 55,029 shares of the pipeline company’s stock worth $1,018,000 after buying an additional 2,201 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors.

Plains GP Stock Performance

NYSE PAGP opened at $21.58 on Wednesday. Plains GP Holdings, L.P. has a fifty-two week low of $16.77 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. The firm has a market capitalization of $4.26 billion, a P/E ratio of 25.39 and a beta of 1.58. The stock has a 50-day simple moving average of $20.06 and a two-hundred day simple moving average of $19.15.

Plains GP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 7.04%. The ex-dividend date was Friday, January 31st. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s dividend payout ratio is currently 286.79%.

Analyst Ratings Changes

PAGP has been the subject of a number of research analyst reports. Raymond James increased their price target on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. StockNews.com cut shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Wells Fargo & Company lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Wolfe Research upgraded 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 note on Friday, January 10th. Finally, Barclays upped their target price on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.