37,637 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Acquired by PFG Investments LLC

PFG Investments LLC bought a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 37,637 shares of the pipeline company's stock, valued at approximately $804,000.

Several other hedge funds have also added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its holdings in shares of Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock worth $25,000 after purchasing an additional 520 shares during the period. Farther Finance Advisors LLC lifted its holdings in Plains GP by 8,120.7% during the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock worth $44,000 after buying an additional 2,355 shares during the period. Allworth Financial LP acquired a new position in Plains GP during the 4th quarter worth about $44,000. Mark Sheptoff Financial Planning LLC lifted its holdings in Plains GP by 1,000.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company's stock worth $81,000 after buying an additional 4,000 shares during the period. Finally, Atala Financial Inc acquired a new position in Plains GP during the 4th quarter worth about $90,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Price Performance

Shares of PAGP opened at $19.66 on Monday. Plains GP Holdings, L.P. has a 52-week low of $16.61 and a 52-week high of $22.31. 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 business's 50 day moving average price is $18.47 and its two-hundred day moving average price is $19.65. The firm has a market cap of $3.89 billion, a PE ratio of 37.10 and a beta of 0.63.

Plains GP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.73%. Plains GP's payout ratio is presently 205.41%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PAGP. JPMorgan Chase & Co. lifted their price objective on Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Barclays dropped their price target on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research report on Thursday, April 10th. Citigroup dropped their price target on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a research 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 stock an "equal weight" rating in a research report on Tuesday, March 25th. Finally, Mizuho boosted their target price on shares of Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Plains GP presently has a consensus rating of "Hold" and an average price target of $20.88.

Plains GP Company 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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