13,707 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Purchased by Bridgefront Capital LLC

Bridgefront Capital LLC acquired a new stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,707 shares of the pipeline company’s stock, valued at approximately $252,000.

A number of other hedge funds have also bought and sold shares of PAGP. Jones Financial Companies Lllp increased its stake in Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 520 shares during the last quarter. US Bancorp DE boosted its stake in Plains GP by 0.7% during the 4th quarter. US Bancorp DE now owns 86,863 shares of the pipeline company’s stock valued at $1,597,000 after purchasing an additional 598 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Plains GP by 3.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 25,634 shares of the pipeline company’s stock worth $471,000 after acquiring an additional 748 shares during the period. ELCO Management Co. LLC raised its holdings in shares of Plains GP by 2.4% in the 4th quarter. ELCO Management Co. LLC now owns 33,954 shares of the pipeline company’s stock worth $624,000 after purchasing an additional 802 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Plains GP by 1.2% in the fourth quarter. NewEdge Advisors LLC now owns 78,000 shares of the pipeline company’s stock valued at $1,434,000 after buying an additional 953 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Up 1.3 %

Shares of PAGP stock opened at $18.24 on Friday. Plains GP Holdings, L.P. has a one year low of $16.61 and a one year high of $22.31. The stock has a market cap of $3.61 billion, a P/E ratio of 34.42 and a beta of 0.68. 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 stock has a fifty day moving average price of $19.63 and a 200 day moving average price of $19.66.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 8.33%. The ex-dividend date of this dividend is Thursday, May 1st. Plains GP’s dividend payout ratio (DPR) is presently 286.79%.

Analysts Set New Price Targets

Several research analysts have commented on PAGP shares. Raymond James raised their target price on shares of Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 28th. Morgan Stanley raised their price objective on shares of Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 25th. Barclays cut their target price on Plains GP from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Thursday, April 10th. StockNews.com lowered shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Finally, Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Plains GP presently has a consensus rating of “Hold” and a consensus target price of $21.40.

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.