Millburn Ridgefield Corp Makes New $238,000 Investment in Plains GP Holdings, L.P. (NYSE:PAGP)

Millburn Ridgefield Corp bought a new stake in Plains GP Holdings, L.P. (NYSE:PAGP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,947 shares of the pipeline company’s stock, valued at approximately $238,000.

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in Plains GP during the fourth quarter worth about $33,000. Allworth Financial LP bought a new position in Plains GP in the 4th quarter valued at approximately $44,000. Hara Capital LLC acquired a new position in shares of Plains GP during the third quarter worth $57,000. Venturi Wealth Management LLC bought a new position in shares of Plains GP in the 4th quarter valued at $103,000. Finally, Continuum Advisory LLC boosted its position in Plains GP by 10.0% during the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock worth $127,000 after buying an additional 637 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Price Performance

PAGP opened at $21.68 on Monday. Plains GP Holdings, L.P. has a 1 year low of $16.90 and a 1 year high of $22.31. 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 company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 40.91 and a beta of 1.58. The firm’s fifty day moving average price is $20.26 and its two-hundred day moving average price is $19.25.

Plains GP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.01%. This is an increase from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. Plains GP’s dividend payout ratio is presently 286.79%.

Analysts Set New Price Targets

PAGP has been the topic of a number of recent research reports. 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 report on Tuesday, January 28th. Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Barclays raised their price objective on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Finally, StockNews.com downgraded shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.60.

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.