Avantax Advisory Services Inc. Has $747,000 Stock Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Avantax Advisory Services Inc. decreased its position in shares of Plains GP Holdings, L.P. (NYSE:PAGPFree Report) by 5.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 46,367 shares of the pipeline company’s stock after selling 2,770 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Plains GP were worth $747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in Plains GP by 41.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,333,168 shares of the pipeline company’s stock worth $130,898,000 after buying an additional 3,318,007 shares during the period. Chickasaw Capital Management LLC increased its position in Plains GP by 21.1% during the 3rd quarter. Chickasaw Capital Management LLC now owns 6,203,209 shares of the pipeline company’s stock worth $99,996,000 after buying an additional 1,080,388 shares during the period. Jennison Associates LLC grew its holdings in shares of Plains GP by 43.7% during the 3rd quarter. Jennison Associates LLC now owns 4,958,406 shares of the pipeline company’s stock worth $79,930,000 after purchasing an additional 1,506,884 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Plains GP by 68.5% during the 4th quarter. Millennium Management LLC now owns 3,254,876 shares of the pipeline company’s stock worth $40,491,000 after purchasing an additional 1,322,722 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Plains GP by 31.8% during the 1st quarter. Allianz Asset Management GmbH now owns 3,094,335 shares of the pipeline company’s stock worth $35,740,000 after purchasing an additional 747,435 shares in the last quarter. Institutional investors own 84.45% of the company’s stock.

Wall Street Analyst Weigh In

PAGP has been the topic of several analyst reports. Truist Financial increased their target price on Plains GP from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, November 6th. StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Plains GP currently has an average rating of “Hold” and an average price target of $17.22.

Read Our Latest Analysis on Plains GP

Plains GP Stock Performance

NYSE:PAGP opened at $16.21 on Friday. The stock’s 50-day simple moving average is $16.06 and its 200 day simple moving average is $15.93. The firm has a market capitalization of $3.18 billion, a PE ratio of 16.40 and a beta of 1.55. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a twelve month low of $11.79 and a twelve month high of $17.05.

Plains GP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be paid a $0.3175 dividend. The ex-dividend date is Tuesday, January 30th. This is a positive change from Plains GP’s previous quarterly dividend of $0.27. This represents a $1.27 annualized dividend and a yield of 7.83%. Plains GP’s dividend payout ratio (DPR) is 129.59%.

Plains GP Company Profile

(Free Report)

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream energy infrastructure in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the transportation of crude oil and NGLs on pipelines, gathering systems, and trucks.

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Institutional Ownership by Quarter for Plains GP (NYSE:PAGP)

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