Gilman Hill Asset Management LLC Acquires New Shares in Plains GP Holdings, L.P. (NYSE:PAGP)

Gilman Hill Asset Management LLC purchased a new stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 282,974 shares of the pipeline company's stock, valued at approximately $6,044,000. Gilman Hill Asset Management LLC owned about 0.14% of Plains GP at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Jones Financial Companies Lllp raised its holdings in shares of Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock valued at $25,000 after acquiring an additional 520 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Plains GP during the 4th quarter valued at $33,000. Allworth Financial LP bought a new position in Plains GP in the 4th quarter worth $44,000. Farther Finance Advisors LLC lifted its position in shares of Plains GP by 8,120.7% in the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock worth $44,000 after purchasing an additional 2,355 shares during the period. Finally, Mark Sheptoff Financial Planning LLC boosted its stake in shares of Plains GP by 1,000.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company's stock valued at $81,000 after purchasing an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company's stock.

Plains GP Stock Up 1.7%

Plains GP stock traded up $0.31 during mid-day trading on Friday, hitting $18.57. The company had a trading volume of 1,562,461 shares, compared to its average volume of 1,543,876. Plains GP Holdings, L.P. has a 12 month low of $16.61 and a 12 month high of $22.31. The company has a market capitalization of $3.67 billion, a PE ratio of 35.04 and a beta of 0.63. The stock's 50 day moving average price is $18.41 and its two-hundred day moving average price is $19.67. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

Plains GP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.19%. The ex-dividend date was Thursday, May 1st. Plains GP's payout ratio is 205.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Mizuho decreased their price target on shares of Plains GP from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday, May 20th. Barclays reduced their target price on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. Morgan Stanley raised their target price on Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 25th. Citigroup reduced 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. Finally, Wall Street Zen raised Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $20.71.

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.