Dakota Wealth Management Makes New Investment in Plains GP Holdings, L.P. (NYSE:PAGP)

Dakota Wealth Management acquired a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 40,359 shares of the pipeline company's stock, valued at approximately $862,000.

A number of other large investors have also recently made changes to their positions in the stock. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Plains GP by 8.0% during 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 purchasing an additional 927,855 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Plains GP by 11.7% in the fourth quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company's stock valued at $113,077,000 after acquiring an additional 646,130 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised 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 acquiring an additional 80,000 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Plains GP by 0.5% in the fourth 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 in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Plains GP by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company's stock valued at $58,213,000 after acquiring an additional 288,430 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PAGP. Barclays decreased their price objective on Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. boosted their target price on shares of Plains GP from $19.00 to $20.00 and gave the stock a "neutral" 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. Mizuho upped their price objective on shares of Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, June 18th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $20.88.

Plains GP Price Performance

Shares of NYSE PAGP opened at $19.57 on Thursday. The business's 50 day moving average price is $18.80 and its 200 day moving average price is $19.73. The firm has a market cap of $3.87 billion, a P/E ratio of 36.93 and a beta of 0.65. Plains GP Holdings, L.P. has a 52 week low of $16.61 and a 52 week high of $22.31. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.77%. Plains GP's dividend payout ratio is currently 205.41%.

Plains GP Company 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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