Cetera Investment Advisers Buys 13,424 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Key Points

• Cetera Investment Advisers increased its stake in Plains GP Holdings by 7.4% during the first quarter, owning approximately 0.10% of the company valued at $4.16 million.
• Plains GP announced a quarterly dividend of $0.38 per share, providing an annualized dividend yield of 7.9%, with a high payout ratio of 205.41%.
• Analysts have mixed views on Plains GP stock, with a consensus rating of "Hold" and a target price averaging $20.88, reflecting varying outlooks on its performance.

Cetera Investment Advisers boosted its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 7.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 194,723 shares of the pipeline company's stock after purchasing an additional 13,424 shares during the quarter. Cetera Investment Advisers owned approximately 0.10% of Plains GP worth $4,159,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Plains GP by 8.0% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company's stock valued at $229,989,000 after acquiring an additional 927,855 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of Plains GP by 2.0% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,033,000 shares of the pipeline company's stock valued at $86,145,000 after buying an additional 80,000 shares during the period. Two Sigma Advisers LP lifted its holdings in Plains GP by 0.5% in the 4th quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company's stock valued at $73,610,000 after acquiring an additional 19,900 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Plains GP by 10.0% during the 4th quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company's stock valued at $58,213,000 after purchasing an additional 288,430 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Plains GP by 0.9% in the 4th quarter. Invesco Ltd. now owns 2,932,295 shares of the pipeline company's stock worth $53,896,000 after purchasing an additional 27,148 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors.

Plains GP Stock Performance

PAGP traded up $0.02 on Monday, hitting $19.26. The company had a trading volume of 1,020,502 shares, compared to its average volume of 1,711,773. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 36.34 and a beta of 0.65. Plains GP Holdings, L.P. has a 1-year low of $16.60 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 company's fifty day moving average price is $19.18 and its 200 day moving average price is $19.76.

Plains GP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.9%. The ex-dividend date is Thursday, July 31st. Plains GP's payout ratio is currently 205.41%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PAGP. Mizuho lifted their price target on shares of Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 18th. Wall Street Zen raised shares of Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. lifted their target price on shares of Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Wolfe Research reaffirmed a "peer perform" rating on shares of Plains GP in a research note on Friday, July 25th. Finally, Citigroup reduced their target price on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average 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.