Aegis Wealth Management LLC Invests $310,000 in Plains GP Holdings, L.P. (NYSE:PAGP)

Aegis Wealth Management LLC bought a new position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,880 shares of the pipeline company's stock, valued at approximately $310,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PAGP. Custom Index Systems LLC acquired a new stake in shares of Plains GP in the fourth quarter worth $265,000. Plato Investment Management Ltd raised its stake in Plains GP by 144.2% during the 4th quarter. Plato Investment Management Ltd now owns 35,812 shares of the pipeline company's stock valued at $661,000 after purchasing an additional 21,146 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in Plains GP during the 4th quarter valued at $380,000. Leisure Capital Management acquired a new position in Plains GP during the 4th quarter valued at $931,000. Finally, Northern Trust Corp raised its stake in Plains GP by 27.2% during the 4th quarter. Northern Trust Corp now owns 80,964 shares of the pipeline company's stock valued at $1,488,000 after purchasing an additional 17,333 shares during the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PAGP shares. Mizuho lowered their price target on shares of Plains GP from $21.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, May 20th. Citigroup lowered their price target on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Morgan Stanley boosted their price target on shares of Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, March 25th. Wall Street Zen raised shares of Plains GP from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Barclays cut their price target on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.71.

Plains GP Trading Down 0.2%

Plains GP stock traded down $0.03 during trading hours on Friday, reaching $17.63. 1,743,887 shares of the company's stock traded hands, compared to its average volume of 1,532,863. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 33.26 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP Holdings, L.P. has a fifty-two week low of $16.61 and a fifty-two week high of $22.31. The firm's 50 day moving average is $18.68 and its 200-day moving average is $19.69.

Plains GP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.62%. The ex-dividend date of this dividend was Thursday, May 1st. Plains GP's dividend payout ratio (DPR) is presently 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.