Alps Advisors Inc. Raises Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Alps Advisors Inc. boosted its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,046,475 shares of the pipeline company's stock after acquiring 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.

Several other large investors also recently bought and sold shares of the business. Tortoise Capital Advisors L.L.C. grew its stake in shares of Plains GP by 8.0% in the 4th 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 buying an additional 927,855 shares during the period. Clearbridge Investments LLC grew its stake in shares of Plains GP by 11.7% in the 4th quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company's stock valued at $113,077,000 after buying an additional 646,130 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Plains GP by 2.0% in the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,033,000 shares of the pipeline company's stock valued at $86,145,000 after buying an additional 80,000 shares during the period. Two Sigma Advisers LP grew its stake in shares of Plains GP by 0.5% in the 4th quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company's stock valued at $73,610,000 after buying an additional 19,900 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Plains GP by 10.0% in the 4th quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company's stock valued at $58,213,000 after buying an additional 288,430 shares during the period. Hedge funds and other institutional investors own 88.30% of the company's stock.

Plains GP Stock Up 0.4%

PAGP stock traded up $0.08 during midday trading on Thursday, hitting $19.65. The company's stock had a trading volume of 721,352 shares, compared to its average volume of 1,598,657. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 52-week low of $16.61 and a 52-week high of $22.31. The firm has a market capitalization of $3.89 billion, a P/E ratio of 37.08 and a beta of 0.65. The firm has a 50-day simple moving average of $18.60 and a 200-day simple moving average of $19.68.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be given a $0.38 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.52 annualized dividend and a yield of 7.74%. Plains GP's dividend payout ratio is presently 205.41%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup dropped 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 note on Tuesday, May 13th. JPMorgan Chase & Co. increased their price target on shares of Plains GP from $19.00 to $20.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Morgan Stanley increased their price objective 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. Wall Street Zen raised shares of Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Mizuho increased their price objective on shares of Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 18th. One equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Plains GP presently has an average 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.