Arista Wealth Management LLC Invests $341,000 in Plains GP Holdings, L.P. $PAGP

Key Points

• Arista Wealth Management LLC invested approximately $341,000 in Plains GP Holdings, L.P. by acquiring 17,562 shares during the second quarter.
• Plains GP has a quarterly dividend of $0.38 per share set to be paid on November 14th, with a significant annualized yield of 9.0%.
• Recent analyst ratings show a consensus rating of "Hold" with a price target averaging at $20.38, while several firms have lowered their target prices for the stock.

Arista Wealth Management LLC bought a new position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 17,562 shares of the pipeline company's stock, valued at approximately $341,000.

Several other large investors have also recently modified their holdings of the business. Blue Trust Inc. increased its stake in shares of Plains GP by 3.7% in the first quarter. Blue Trust Inc. now owns 15,344 shares of the pipeline company's stock worth $328,000 after purchasing an additional 545 shares in the last quarter. Founders Capital Management increased its stake in shares of Plains GP by 1.2% in the second quarter. Founders Capital Management now owns 67,202 shares of the pipeline company's stock worth $1,306,000 after purchasing an additional 797 shares in the last quarter. Dakota Wealth Management increased its stake in shares of Plains GP by 2.0% in the second quarter. Dakota Wealth Management now owns 41,179 shares of the pipeline company's stock worth $800,000 after purchasing an additional 820 shares in the last quarter. Pin Oak Investment Advisors Inc. increased its stake in shares of Plains GP by 1.3% in the first quarter. Pin Oak Investment Advisors Inc. now owns 83,779 shares of the pipeline company's stock worth $1,758,000 after purchasing an additional 1,035 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in shares of Plains GP by 9.6% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 12,971 shares of the pipeline company's stock worth $252,000 after purchasing an additional 1,131 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PAGP. Morgan Stanley reduced their target price on shares of Plains GP from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 26th. Wolfe Research restated a "peer perform" rating on shares of Plains GP in a research report on Friday, July 25th. Zacks Research lowered shares of Plains GP from a "hold" rating to a "strong sell" rating in a research report on Tuesday. Barclays cut their price objective on shares of Plains GP from $18.00 to $17.00 and set an "underweight" rating for the company in a research report on Tuesday, October 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Plains GP from $21.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Plains GP presently has a consensus rating of "Hold" and a consensus price target of $20.38.

Plains GP Trading Down 0.3%

Shares of Plains GP stock opened at $16.89 on Friday. Plains GP Holdings, L.P. has a 1 year low of $16.60 and a 1 year high of $22.31. The firm has a market cap of $3.34 billion, a PE ratio of 31.87 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The company has a 50 day simple moving average of $18.41 and a two-hundred day simple moving average of $18.71.

Plains GP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a dividend of $0.38 per share. The ex-dividend date is Friday, October 31st. This represents a $1.52 annualized dividend and a yield of 9.0%. 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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