Plains GP Holdings, L.P. (NYSE:PAGP) Shares Acquired by Bard Financial Services Inc.

Bard Financial Services Inc. lifted its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 5.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 296,725 shares of the pipeline company’s stock after buying an additional 15,250 shares during the period. Bard Financial Services Inc.’s holdings in Plains GP were worth $6,338,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PAGP. Jones Financial Companies Lllp increased its position 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 purchasing an additional 520 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Plains GP during the fourth quarter worth approximately $33,000. Farther Finance Advisors LLC increased its position in shares of Plains GP by 8,120.7% during the fourth 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 in the last quarter. Allworth Financial LP purchased a new stake in shares of Plains GP during the fourth quarter worth approximately $44,000. Finally, Mark Sheptoff Financial Planning LLC increased its position in shares of Plains GP by 1,000.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company’s stock worth $81,000 after purchasing an additional 4,000 shares in the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays dropped their price target on Plains GP from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Thursday, April 10th. Mizuho dropped their target price on Plains GP from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, May 20th. Wall Street Zen raised Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Citigroup cut their target price on Plains GP from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Finally, Morgan Stanley raised their target price on Plains GP from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.71.

Plains GP Stock Performance

Shares of Plains GP stock opened at $18.72 on Wednesday. The business has a 50-day moving average of $18.25 and a 200 day moving average of $19.66. Plains GP Holdings, L.P. has a 12 month low of $16.61 and a 12 month high of $22.31. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 35.32 and a beta of 0.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 8.12%. The ex-dividend date was Thursday, May 1st. Plains GP’s dividend payout ratio (DPR) is 205.41%.

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.