20,000 Shares in Plains GP Holdings, L.P. $PAGP Acquired by Brasada Capital Management LP

Key Points

• Brasada Capital Management LP acquired 20,000 shares of Plains GP Holdings, L.P. for approximately $427,000 in the first quarter, indicating increased interest from institutional investors.
• Plains GP recently declared a quarterly dividend of $0.38, representing an annualized yield of 7.9%, although its dividend payout ratio is notably high at 220.29%.
• Wall Street analysts have mixed ratings on Plains GP, with a consensus target price of $20.50, reflecting a range of opinions from "Strong Buy" to "Sell".

Brasada Capital Management LP purchased a new stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 20,000 shares of the pipeline company's stock, valued at approximately $427,000.

Other large investors have also recently modified their holdings of the company. Golden State Wealth Management LLC raised its stake in shares of Plains GP by 233.1% during the first quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company's stock valued at $128,000 after acquiring an additional 4,195 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Plains GP during the first quarter valued at $135,000. McIlrath & Eck LLC bought a new position in shares of Plains GP during the fourth quarter valued at $166,000. GAMMA Investing LLC raised its stake in shares of Plains GP by 2,252.7% during the first quarter. GAMMA Investing LLC now owns 8,352 shares of the pipeline company's stock valued at $178,000 after acquiring an additional 7,997 shares during the last quarter. Finally, State of Wyoming raised its stake in shares of Plains GP by 192.3% during the first quarter. State of Wyoming now owns 8,311 shares of the pipeline company's stock valued at $178,000 after acquiring an additional 5,468 shares during the last quarter. Institutional investors own 88.30% of the company's stock.

Plains GP Trading Up 0.3%

NYSE:PAGP opened at $19.30 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 36.42 and a beta of 0.70. The firm has a fifty day simple moving average of $19.36 and a two-hundred day simple moving average of $19.44. Plains GP Holdings, L.P. has a 12 month low of $16.60 and a 12 month high of $22.31.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date was Thursday, July 31st. Plains GP's dividend payout ratio (DPR) is presently 220.29%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wolfe Research reaffirmed a "peer perform" rating on shares of Plains GP in a research note on Friday, July 25th. Wall Street Zen raised shares of Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. lifted their target price on shares of Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Morgan Stanley lowered their target price on shares of Plains GP from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Tuesday. Finally, Citigroup lowered their target price on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $20.50.

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.

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