Catalyst Capital Advisors LLC Has $18.24 Million Stock Position in Plains GP Holdings, L.P. $PAGP

Key Points

• Catalyst Capital Advisors LLC increased its stake in Plains GP Holdings by 6.0% in Q2, owning approximately 0.47% of the company, which is valued at $18.24 million.
• Several institutional investors reported significant increases in their positions in Plains GP during the second quarter, with the majority of the company’s stock, 88.30%, now owned by institutional investors and hedge funds.
• Plains GP recently declared a quarterly dividend of $0.38, resulting in an annualized yield of 8.5% and a high payout ratio of 220.29%.

Catalyst Capital Advisors LLC raised its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 6.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 938,873 shares of the pipeline company's stock after acquiring an additional 53,000 shares during the quarter. Catalyst Capital Advisors LLC owned approximately 0.47% of Plains GP worth $18,242,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its holdings in Plains GP by 378.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,997 shares of the pipeline company's stock valued at $39,000 after purchasing an additional 1,580 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Plains GP in the 2nd quarter valued at $51,000. CWM LLC lifted its holdings in shares of Plains GP by 394.5% during the second quarter. CWM LLC now owns 2,883 shares of the pipeline company's stock worth $56,000 after buying an additional 2,300 shares in the last quarter. Private Trust Co. NA raised its stake in Plains GP by 100.0% in the 2nd quarter. Private Trust Co. NA now owns 5,211 shares of the pipeline company's stock worth $101,000 after purchasing an additional 2,606 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in shares of Plains GP by 233.1% during the first quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company's stock worth $128,000 after purchasing an additional 4,195 shares during the period. Institutional investors and hedge funds own 88.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays dropped their price target on Plains GP from $18.00 to $17.00 and set an "underweight" rating for the company in a research note on Tuesday, October 7th. Morgan Stanley lowered their price objective on shares of Plains GP from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 26th. Wolfe Research reiterated a "peer perform" rating on shares of Plains GP in a research note on Friday, July 25th. JPMorgan Chase & Co. reduced their price objective on Plains GP from $21.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, September 18th. Finally, Zacks Research downgraded Plains GP from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $20.38.

Plains GP Trading Up 2.0%

NYSE PAGP opened at $17.81 on Friday. Plains GP Holdings, L.P. has a 12 month low of $16.60 and a 12 month high of $22.31. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $3.52 billion, a PE ratio of 33.60 and a beta of 0.68. The business's 50-day moving average price is $18.29 and its two-hundred day moving average price is $18.65.

Plains GP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a $0.38 dividend. The ex-dividend date is Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.5%. Plains GP's payout ratio is 220.29%.

About Plains GP

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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