Plains GP Holdings, L.P. (NYSE:PAGP) Stock Position Increased by Cetera Investment Advisers

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

A number of other institutional investors also recently added to or reduced their stakes in PAGP. Golden State Wealth Management LLC grew its holdings in shares of Plains GP by 233.1% in the 1st quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company's stock valued at $128,000 after buying an additional 4,195 shares during the period. McIlrath & Eck LLC acquired a new stake in Plains GP in the fourth quarter worth $166,000. GAMMA Investing LLC boosted its holdings in Plains GP by 2,252.7% during the first quarter. GAMMA Investing LLC now owns 8,352 shares of the pipeline company's stock worth $178,000 after purchasing an additional 7,997 shares during the last quarter. Insigneo Advisory Services LLC boosted its stake in Plains GP by 11.3% in the fourth quarter. Insigneo Advisory Services LLC now owns 11,283 shares of the pipeline company's stock valued at $207,000 after acquiring an additional 1,146 shares during the last quarter. Finally, IVC Wealth Advisors LLC bought a new stake in shares of Plains GP in the first quarter valued at approximately $214,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PAGP has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research note on Thursday, April 10th. 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 note on Wednesday, June 18th. Wall Street Zen upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Wolfe Research reissued a "peer perform" rating on shares of Plains GP in a report on Friday, July 25th. Finally, Mizuho upped their target price on shares of Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $20.88.

Plains GP Stock Performance

NYSE PAGP traded up $0.12 on Thursday, reaching $19.41. 550,415 shares of the company's stock traded hands, compared to its average volume of 1,707,778. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 36.65 and a beta of 0.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP Holdings, L.P. has a fifty-two week low of $16.60 and a fifty-two week high of $22.31. The stock has a 50 day moving average price of $19.26 and a 200-day moving average price of $19.73.

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 issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Thursday, July 31st. Plains GP's dividend payout ratio is currently 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.