Cambridge Investment Research Advisors Inc. Acquires 45,577 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Cambridge Investment Research Advisors Inc. lifted its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 70.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,504 shares of the pipeline company's stock after buying an additional 45,577 shares during the period. Cambridge Investment Research Advisors Inc. owned approximately 0.06% of Plains GP worth $2,360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp grew its position in Plains GP by 61.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock worth $25,000 after acquiring an additional 520 shares during the last quarter. Farther Finance Advisors LLC boosted its position in 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 during the period. Mark Sheptoff Financial Planning LLC grew its position in shares of 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 last quarter. Atala Financial Inc purchased a new position in Plains GP during the 4th quarter valued at $90,000. Finally, GAMMA Investing LLC increased its position in shares of Plains GP by 2,252.7% during 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 period. Institutional investors own 88.30% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays lowered their price objective on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a report on Thursday, April 10th. Mizuho increased their price target 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. Wall Street Zen raised shares of Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Citigroup cut their price objective on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. raised their target price 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. 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 MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $20.88.

Plains GP Price Performance

Shares of NYSE:PAGP opened at $19.43 on Tuesday. 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 firm has a market cap of $3.84 billion, a price-to-earnings ratio of 36.66 and a beta of 0.63. The business has a 50-day simple moving average of $18.55 and a two-hundred day simple moving average of $19.65. Plains GP Holdings, L.P. has a fifty-two week low of $16.61 and a fifty-two week high of $22.31.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 annualized dividend and a dividend yield of 7.82%. Plains GP's dividend payout ratio (DPR) is 205.41%.

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.

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