Swiss National Bank Purchases 2,900 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Swiss National Bank lifted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 387,934 shares of the pipeline company’s stock after purchasing an additional 2,900 shares during the period. Swiss National Bank owned 0.20% of Plains GP worth $7,130,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its holdings in shares of Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock worth $25,000 after buying an additional 520 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Plains GP during the 4th quarter valued at $33,000. Allworth Financial LP bought a new stake in Plains GP in the 4th quarter valued at $44,000. Farther Finance Advisors LLC grew its position in Plains GP by 8,120.7% in 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. Finally, Venturi Wealth Management LLC bought a new position in shares of Plains GP during the 4th quarter worth about $103,000. Institutional investors own 88.30% of the company’s stock.

Plains GP Trading Down 1.0 %

Shares of PAGP stock opened at $21.34 on Friday. The company has a market capitalization of $4.22 billion, a P/E ratio of 40.26 and a beta of 1.55. 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 quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $21.23 and a 200 day moving average price of $19.57.

Plains GP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.38 dividend. 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 7.12%. The ex-dividend date of this dividend was Friday, January 31st. Plains GP’s payout ratio is presently 286.79%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PAGP shares. StockNews.com cut shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Friday, January 10th. Raymond James upped their target price 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. Barclays lifted their price target on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Plains GP has a consensus rating of “Hold” and a consensus 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.