Counterpoint Mutual Funds LLC Has $1.84 Million Stock Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Counterpoint Mutual Funds LLC lifted its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 47.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 100,040 shares of the pipeline company’s stock after acquiring an additional 32,199 shares during the period. Plains GP accounts for about 0.2% of Counterpoint Mutual Funds LLC’s portfolio, making the stock its 17th biggest position. Counterpoint Mutual Funds LLC’s holdings in Plains GP were worth $1,839,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC bought a new position in shares of Plains GP during the 3rd quarter worth approximately $13,848,000. Algert Global LLC increased its holdings in Plains GP by 128.6% during the 3rd quarter. Algert Global LLC now owns 87,659 shares of the pipeline company’s stock worth $1,622,000 after acquiring an additional 49,320 shares during the period. Larson Financial Group LLC purchased a new stake in shares of Plains GP in the third quarter worth $353,000. BNP Paribas Financial Markets grew its holdings 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 purchasing an additional 103,353 shares in the last quarter. Finally, Townsquare Capital LLC raised its position in shares of Plains GP by 1.2% during the 3rd quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock valued at $1,110,000 after buying an additional 729 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PAGP shares. Barclays increased their target price on shares of Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Wells Fargo & Company downgraded shares of 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 research note on Wednesday, December 18th. StockNews.com cut shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Raymond James boosted their price objective on shares of Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Wolfe Research raised 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Plains GP currently has an average rating of “Hold” and a consensus price target of $20.60.

Plains GP Stock Performance

Shares of PAGP opened at $21.10 on Monday. Plains GP Holdings, L.P. has a one year low of $17.17 and a one year high of $22.31. The company has a 50-day simple moving average of $21.04 and a two-hundred day simple moving average of $19.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The firm has a market capitalization of $4.17 billion, a PE ratio of 39.81 and a beta of 1.55.

Plains GP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 7.20%. This is a boost from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. Plains GP’s dividend payout ratio is presently 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.