PFG Investments LLC Makes New $804,000 Investment in Plains GP Holdings, L.P. (NYSE:PAGP)

PFG Investments LLC bought 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 filing with the SEC. The fund bought 37,637 shares of the pipeline company's stock, valued at approximately $804,000.

Several other hedge funds have also recently added to or reduced their stakes in PAGP. Northern Trust Corp lifted its stake in Plains GP by 27.2% in the fourth quarter. Northern Trust Corp now owns 80,964 shares of the pipeline company's stock valued at $1,488,000 after acquiring an additional 17,333 shares during the last quarter. Plato Investment Management Ltd raised its position in Plains GP by 144.2% during the fourth 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 in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Plains GP during the 4th quarter worth $380,000. Bank of Montreal Can grew its holdings in shares of Plains GP by 36.4% during the 4th quarter. Bank of Montreal Can now owns 43,284 shares of the pipeline company's stock valued at $796,000 after purchasing an additional 11,541 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Plains GP by 7.9% during the fourth quarter. Barclays PLC now owns 890,577 shares of the pipeline company's stock worth $16,370,000 after buying an additional 65,080 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company's stock.

Plains GP Price Performance

Shares of NYSE PAGP traded up $0.32 during midday trading on Thursday, hitting $19.39. 1,564,934 shares of the company's stock were exchanged, compared to its average volume of 1,602,421. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 12-month low of $16.61 and a 12-month high of $22.31. 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 business's fifty day moving average price is $18.52 and its two-hundred day moving average price is $19.64.

Plains GP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders 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 annualized dividend and a dividend yield of 7.84%. Plains GP's dividend payout ratio (DPR) is presently 205.41%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays decreased their price target on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. Morgan Stanley increased their price target on Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 25th. Mizuho raised their target price on Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday, June 18th. Citigroup reduced their price target on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, Wall Street Zen raised Plains GP from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One 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 given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus 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.