Duff & Phelps Investment Management Co. Increases Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Duff & Phelps Investment Management Co. boosted its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 31.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,103 shares of the pipeline company’s stock after buying an additional 25,000 shares during the quarter. Duff & Phelps Investment Management Co. owned approximately 0.05% of Plains GP worth $1,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PAGP. BNP Paribas Financial Markets grew its stake in shares of Plains GP by 8.5% during the third quarter. BNP Paribas Financial Markets now owns 1,313,974 shares of the pipeline company’s stock valued at $24,309,000 after buying an additional 103,353 shares during the last quarter. Townsquare Capital LLC grew its position in Plains GP by 1.2% during the 3rd quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock worth $1,110,000 after acquiring an additional 729 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Plains GP in the 3rd quarter worth approximately $4,013,000. Infrastructure Capital Advisors LLC purchased a new position in Plains GP in the 3rd quarter worth approximately $202,000. Finally, Captrust Financial Advisors lifted its position in Plains GP by 4.0% in the third quarter. Captrust Financial Advisors now owns 57,596 shares of the pipeline company’s stock valued at $1,066,000 after purchasing an additional 2,241 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PAGP shares. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Tuesday. Morgan Stanley upped their price objective on shares of Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday. Raymond James raised their target price on Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. 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 investment analysts have rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $21.00.

Plains GP Price Performance

PAGP opened at $21.51 on Friday. Plains GP Holdings, L.P. has a 12-month low of $17.17 and a 12-month high of $22.31. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 40.59 and a beta of 1.55. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $21.30 and a two-hundred day simple moving average of $19.66.

Plains GP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.38 per share. This is a boost from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date of this dividend was Friday, January 31st. Plains GP’s dividend payout ratio (DPR) is 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.