Advisor Resource Council Buys Shares of 21,491 Plains GP Holdings, L.P. (NYSE:PAGP)

Advisor Resource Council purchased a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,491 shares of the pipeline company's stock, valued at approximately $459,000.

Other large investors have also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. raised its stake in shares of Plains GP by 8.0% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company's stock valued at $229,989,000 after purchasing an additional 927,855 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Plains GP by 11.7% in the fourth quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company's stock worth $113,077,000 after acquiring an additional 646,130 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Plains GP by 0.5% during the 4th quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company's stock worth $73,610,000 after buying an additional 19,900 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Plains GP by 10.0% during the fourth quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company's stock valued at $58,213,000 after acquiring an additional 288,430 shares during the period. Finally, Invesco Ltd. lifted its position in Plains GP by 0.9% during the 4th quarter. Invesco Ltd. now owns 2,932,295 shares of the pipeline company's stock valued at $53,896,000 after purchasing an additional 27,148 shares during the period. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Performance

Plains GP stock traded up $0.32 during midday trading on Thursday, hitting $19.39. The company's stock had a trading volume of 1,564,934 shares, compared to its average volume of 1,602,421. Plains GP Holdings, L.P. has a 1-year low of $16.61 and a 1-year high of $22.31. The company has a 50-day moving average price of $18.52 and a two-hundred day moving average price of $19.64. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 36.59 and a beta of 0.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 7.84%. The ex-dividend date of this dividend was Thursday, May 1st. Plains GP's dividend payout ratio is currently 205.41%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays cut their target price on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. Wall Street Zen raised Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. increased their price objective 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. Mizuho raised their target price on shares of Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday, June 18th. Finally, Citigroup reduced their price target on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $20.88.

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.