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

Alps Advisors Inc. grew its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 8.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (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.

Several other institutional investors and hedge funds also recently made changes to their positions in PAGP. Jones Financial Companies Lllp lifted its holdings in Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock valued at $25,000 after purchasing an additional 520 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of 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 valued at $44,000 after buying an additional 2,355 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its holdings in Plains GP by 1,000.0% in 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. Atala Financial Inc purchased a new position in Plains GP in the 4th quarter valued at approximately $90,000. Finally, Golden State Wealth Management LLC raised its holdings in Plains GP by 233.1% during the 1st quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company's stock valued at $128,000 after acquiring an additional 4,195 shares during the period. Institutional investors own 88.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PAGP. Citigroup cut their price target 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 target price on Plains GP from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Mizuho upped their price target on Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a research report on Wednesday, June 18th. Morgan Stanley raised their price objective on shares of Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 25th. Finally, Barclays decreased their target price on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $20.88.

Plains GP Price Performance

PAGP traded up $0.15 during trading on Friday, reaching $19.80. The stock had a trading volume of 887,293 shares, compared to its average volume of 1,600,557. The business has a 50-day moving average of $18.68 and a 200-day moving average of $19.72. Plains GP Holdings, L.P. has a one year low of $16.61 and a one year 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 stock has a market cap of $3.92 billion, a PE ratio of 37.36 and a beta of 0.65.

Plains GP Announces Dividend

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 dividend of $0.38 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.52 annualized dividend and a yield of 7.68%. Plains GP's payout ratio is 205.41%.

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.