Catalyst Capital Advisors LLC Grows Stock Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Catalyst Capital Advisors LLC raised its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 18.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 885,873 shares of the pipeline company's stock after acquiring an additional 134,943 shares during the period. Catalyst Capital Advisors LLC owned approximately 0.45% of Plains GP worth $18,922,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PAGP. Janney Montgomery Scott LLC boosted its position in shares of Plains GP by 434.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 196,584 shares of the pipeline company's stock valued at $4,199,000 after acquiring an additional 159,795 shares during the last quarter. Northern Trust Corp raised its stake in Plains GP by 27.2% during the fourth quarter. Northern Trust Corp now owns 80,964 shares of the pipeline company's stock worth $1,488,000 after purchasing an additional 17,333 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Plains GP in the 4th quarter valued at about $380,000. PFG Investments LLC purchased a new stake in shares of Plains GP in the 1st quarter valued at approximately $804,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Plains GP by 70.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 110,504 shares of the pipeline company's stock worth $2,360,000 after buying an additional 45,577 shares during the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Trading Up 0.2%

Shares of PAGP stock traded up $0.04 on Friday, hitting $19.55. The stock had a trading volume of 602,150 shares, compared to its average volume of 1,598,779. The company's 50 day moving average price is $18.58 and its 200-day moving average price is $19.65. Plains GP Holdings, L.P. has a 1 year low of $16.61 and a 1 year high of $22.31. 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 firm has a market capitalization of $3.86 billion, a P/E ratio of 36.88 and a beta of 0.65.

Plains GP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.78%. The ex-dividend date is Thursday, July 31st. Plains GP's payout ratio is 205.41%.

Analysts Set New Price Targets

PAGP has been the topic of a number of recent analyst reports. Barclays decreased their price objective on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. Citigroup decreased their price target on Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Mizuho increased their price target on Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, June 18th. Wall Street Zen upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. upped their target price on shares of Plains GP from $19.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $20.88.

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.