Abel Hall LLC Takes Position in Plains GP Holdings, L.P. $PAGP

Key Points

• Abel Hall LLC acquired a new stake in Plains GP Holdings, L.P. during the 2nd quarter, purchasing 15,200 shares valued at approximately $295,000.
• Several institutional investors, including Ameritas Advisory Services LLC and GAMMA Investing LLC, have also significantly increased their positions in Plains GP, indicating growing interest among large investors.
• Analysts have lowered price targets for Plains GP, with most recent targets set between $17.00 and $20.00, while the stock has an average rating of "Hold" and an annualized dividend yield of 8.6%.

Abel Hall LLC bought a new stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 15,200 shares of the pipeline company's stock, valued at approximately $295,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ameritas Advisory Services LLC bought a new position in shares of Plains GP in the second quarter valued at about $51,000. Golden State Wealth Management LLC raised its holdings in shares of Plains GP by 233.1% in the first quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company's stock valued at $128,000 after buying an additional 4,195 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Plains GP in the first quarter valued at about $135,000. State of Wyoming raised its holdings in shares of Plains GP by 192.3% in the first quarter. State of Wyoming now owns 8,311 shares of the pipeline company's stock valued at $178,000 after buying an additional 5,468 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Plains GP by 2,252.7% in the first quarter. GAMMA Investing LLC now owns 8,352 shares of the pipeline company's stock valued at $178,000 after buying an additional 7,997 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Plains GP from $21.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, September 18th. Morgan Stanley dropped their price objective on Plains GP from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Tuesday, August 26th. Barclays dropped their price objective on Plains GP from $18.00 to $17.00 and set an "underweight" rating for the company in a report on Tuesday. Wolfe Research reissued a "peer perform" rating on shares of Plains GP in a report on Friday, July 25th. Finally, Zacks Research cut Plains GP from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Plains GP currently has an average rating of "Hold" and an average price target of $20.38.

Plains GP Price Performance

Plains GP stock opened at $17.60 on Thursday. The firm has a market capitalization of $3.48 billion, a P/E ratio of 33.21 and a beta of 0.68. Plains GP Holdings, L.P. has a 1 year low of $16.60 and a 1 year high of $22.31. The business has a 50-day moving average of $18.74 and a 200-day moving average of $18.93. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Friday, October 31st. Plains GP's payout ratio is presently 220.29%.

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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