Thompson Siegel & Walmsley LLC Purchases 86,714 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Thompson Siegel & Walmsley LLC raised its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 11.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 835,254 shares of the pipeline company’s stock after purchasing an additional 86,714 shares during the quarter. Thompson Siegel & Walmsley LLC owned 0.42% of Plains GP worth $15,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PAGP. Entropy Technologies LP lifted its position in Plains GP by 29.9% during the third quarter. Entropy Technologies LP now owns 48,052 shares of the pipeline company’s stock valued at $889,000 after purchasing an additional 11,073 shares during the last quarter. Linscomb Wealth Inc. lifted its position in Plains GP by 19.4% during the third quarter. Linscomb Wealth Inc. now owns 313,100 shares of the pipeline company’s stock valued at $5,792,000 after purchasing an additional 50,859 shares during the last quarter. Algert Global LLC lifted its position in Plains GP by 128.6% during the third quarter. Algert Global LLC now owns 87,659 shares of the pipeline company’s stock valued at $1,622,000 after purchasing an additional 49,320 shares during the last quarter. Larson Financial Group LLC purchased a new position in shares of Plains GP during the third quarter worth approximately $353,000. Finally, BNP Paribas Financial Markets raised 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 worth $24,309,000 after acquiring an additional 103,353 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on PAGP. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Friday, January 10th. Raymond James lifted their price target on shares of 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 downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. StockNews.com downgraded shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, 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. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.60.

Plains GP Stock Up 1.7 %

Shares of NYSE PAGP opened at $21.00 on Thursday. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 39.62 and a beta of 1.55. The firm’s fifty day moving average is $20.94 and its 200 day moving average is $19.46. Plains GP Holdings, L.P. has a 52 week low of $17.17 and a 52 week 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.

Plains GP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.24%. This is a boost from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s payout ratio is 286.79%.

About Plains GP

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.