Alps Advisors Inc. Purchases 82,457 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Alps Advisors Inc. increased its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 8.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,046,475 shares of the pipeline company's stock after buying an additional 82,457 shares during the period. Alps Advisors Inc. owned 0.53% of Plains GP worth $22,353,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC grew its holdings in Plains GP by 170.6% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 96,844 shares of the pipeline company's stock valued at $2,069,000 after purchasing an additional 61,056 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Plains GP by 15.8% in the first quarter. Envestnet Asset Management Inc. now owns 329,813 shares of the pipeline company's stock worth $7,045,000 after acquiring an additional 44,948 shares during the last quarter. Catalyst Capital Advisors LLC grew its stake in shares of Plains GP by 18.0% in the first quarter. Catalyst Capital Advisors LLC now owns 885,873 shares of the pipeline company's stock worth $18,922,000 after acquiring an additional 134,943 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of Plains GP by 7.3% in the first quarter. D.A. Davidson & CO. now owns 80,062 shares of the pipeline company's stock worth $1,710,000 after acquiring an additional 5,436 shares during the last quarter. Finally, Argent Advisors Inc. acquired a new stake in shares of Plains GP in the first quarter worth $1,306,000. Institutional investors and hedge funds own 88.30% of the company's stock.

Plains GP Trading Up 0.9%

Shares of Plains GP stock traded up $0.18 during trading on Friday, hitting $19.83. 563,305 shares of the company were exchanged, compared to its average volume of 1,594,647. The firm has a market capitalization of $3.92 billion, a P/E ratio of 37.41 and a beta of 0.65. Plains GP Holdings, L.P. has a 1-year low of $16.61 and a 1-year high of $22.31. The firm's fifty day moving average price is $18.63 and its 200 day moving average price is $19.69. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 7.67%. The ex-dividend date of this dividend is Thursday, July 31st. Plains GP's dividend payout ratio (DPR) is presently 205.41%.

Analysts Set New Price Targets

PAGP has been the topic of several research analyst reports. Mizuho raised their price objective on shares of Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 18th. Citigroup cut their price objective on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. JPMorgan Chase & Co. lifted their price target on Plains GP from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Morgan Stanley lifted their price objective on 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, Barclays lowered their price objective on Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Plains GP currently has a consensus rating of "Hold" and a consensus target price of $20.88.

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.