282,974 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Bought by Gilman Hill Asset Management LLC

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

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

Plains GP Stock Performance

PAGP traded up $0.31 during trading hours on Friday, hitting $18.57. The stock had a trading volume of 1,562,461 shares, compared to its average volume of 1,550,568. The company's fifty day simple moving average is $18.35 and its 200 day simple moving average is $19.67. Plains GP Holdings, L.P. has a 1 year low of $16.61 and a 1 year high of $22.31. The stock has a market cap of $3.67 billion, a PE ratio of 35.04 and a beta of 0.63. 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 business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 8.19%. Plains GP's dividend payout ratio (DPR) is currently 205.41%.

Analyst Ratings Changes

Several research analysts have recently issued reports on PAGP shares. Citigroup lowered their price objective on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Wall Street Zen raised shares of Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Mizuho decreased their target price on shares of Plains GP from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Tuesday, May 20th. Morgan Stanley increased their target price on shares of Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 25th. Finally, Barclays decreased their target price on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $20.71.

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.