Avidian Wealth Enterprises LLC Has $415,000 Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Avidian Wealth Enterprises LLC boosted its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 91.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,579 shares of the pipeline company’s stock after buying an additional 10,785 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Plains GP were worth $415,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Continuum Advisory LLC boosted its stake in Plains GP by 10.0% in the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after buying an additional 637 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Plains GP by 1.9% during the third 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 during the last quarter. Townsquare Capital LLC grew its holdings in shares of Plains GP by 1.2% during the third quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock worth $1,110,000 after purchasing an additional 729 shares during the last quarter. Drucker Wealth 3.0 LLC grew its holdings in shares of Plains GP by 1.7% during the third quarter. Drucker Wealth 3.0 LLC now owns 59,110 shares of the pipeline company’s stock worth $1,094,000 after purchasing an additional 970 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Plains GP by 10.3% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 11,925 shares of the pipeline company’s stock worth $219,000 after purchasing an additional 1,112 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Trading Up 1.1 %

NYSE:PAGP opened at $20.91 on Friday. Plains GP Holdings, L.P. has a 1-year low of $16.36 and a 1-year high of $22.31. The business’s 50-day moving average price is $19.98 and its two-hundred day moving average price is $19.11. 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 firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 24.60 and a beta of 1.58.

Plains GP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid 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 annualized dividend and a yield of 7.27%. Plains GP’s dividend payout ratio is presently 178.82%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Barclays increased their target price on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Friday, January 10th. Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Morgan Stanley cut Plains GP from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, StockNews.com cut Plains GP from a “buy” rating to a “hold” rating in a report on Monday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.60.

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.