Stock Traders Purchase High Volume of Plains GP Call Options (NYSE:PAGP)

Plains GP Holdings, L.P. (NYSE:PAGP) was the target of unusually large options trading activity on Thursday. Traders purchased 10,187 call options on the stock. This represents an increase of approximately 685% compared to the average volume of 1,297 call options.

Hedge Funds Weigh In On Plains GP

Several large investors have recently modified their holdings of the business. Chickasaw Capital Management LLC increased its holdings in Plains GP by 24.7% in the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock valued at $151,047,000 after purchasing an additional 1,629,008 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in shares of Plains GP during the third quarter worth about $13,848,000. Yaupon Capital Management LP bought a new position in shares of Plains GP during the third quarter worth about $9,772,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Plains GP in the second quarter worth approximately $5,734,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Plains GP in the third quarter valued at approximately $4,013,000. Institutional investors own 88.30% of the company’s stock.

Plains GP Trading Up 4.0 %

Shares of NYSE:PAGP traded up $0.84 during midday trading on Thursday, hitting $21.51. 2,446,835 shares of the stock were exchanged, compared to its average volume of 1,976,561. The business’s 50-day moving average price is $18.92 and its 200 day moving average price is $18.84. Plains GP has a 12 month low of $15.78 and a 12 month high of $21.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 25.26 and a beta of 1.58.

Plains GP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 7.07%. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, January 31st. Plains GP’s payout ratio is presently 149.41%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PAGP shares. Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Friday, January 10th. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Barclays boosted their target price on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Morgan Stanley cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.22.

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.