Plains GP Holdings, L.P. $PAGP Shares Acquired by HF Advisory Group LLC

Key Points

• HF Advisory Group LLC increased its stake in Plains GP Holdings by 26.3%, acquiring an additional 34,971 shares, bringing its total holdings to 167,917 shares valued at approximately $3.26 million.
• Several hedge funds, including Northern Trust Corp and UBS AM, have also increased their positions in Plains GP, contributing to institutional investors owning 88.30% of the company's stock.
• Plains GP announced a quarterly dividend of $0.38, resulting in an annualized dividend yield of 8.2%, although it has a high dividend payout ratio of 220.29%.

HF Advisory Group LLC raised its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 26.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 167,917 shares of the pipeline company's stock after acquiring an additional 34,971 shares during the quarter. Plains GP makes up about 1.3% of HF Advisory Group LLC's portfolio, making the stock its 20th largest holding. HF Advisory Group LLC owned about 0.08% of Plains GP worth $3,263,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in Plains GP by 3.7% in the first quarter. Blue Trust Inc. now owns 15,344 shares of the pipeline company's stock worth $328,000 after purchasing an additional 545 shares during the period. Pin Oak Investment Advisors Inc. lifted its stake in shares of Plains GP by 1.3% in the first quarter. Pin Oak Investment Advisors Inc. now owns 83,779 shares of the pipeline company's stock valued at $1,758,000 after buying an additional 1,035 shares in the last quarter. Leisure Capital Management lifted its position in shares of Plains GP by 2.7% during the first quarter. Leisure Capital Management now owns 52,064 shares of the pipeline company's stock valued at $1,112,000 after purchasing an additional 1,390 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Plains GP by 1.9% during the first quarter. NewEdge Advisors LLC now owns 79,444 shares of the pipeline company's stock valued at $1,697,000 after purchasing an additional 1,444 shares in the last quarter. Finally, Wealth Alliance Advisory Group LLC raised its position in Plains GP by 13.3% in the first quarter. Wealth Alliance Advisory Group LLC now owns 12,350 shares of the pipeline company's stock worth $264,000 after acquiring an additional 1,449 shares during the period. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Trading Down 0.9%

PAGP traded down $0.16 during trading on Monday, reaching $18.12. The company had a trading volume of 1,021,998 shares, compared to its average volume of 1,631,595. The stock has a market cap of $3.58 billion, a P/E ratio of 34.19 and a beta of 0.76. The business has a 50 day simple moving average of $19.09 and a 200-day simple moving average of $19.14. Plains GP Holdings, L.P. has a 52 week low of $16.60 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 8.4%. The ex-dividend date was Thursday, July 31st. Plains GP's payout ratio is 220.29%.

Analyst Upgrades and Downgrades

PAGP has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Plains GP from $21.00 to $20.00 and set a "neutral" rating for the company in a research note on Thursday. Mizuho boosted their price objective 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. Wolfe Research restated a "peer perform" rating on shares of Plains GP in a report on Friday, July 25th. Zacks Research lowered shares of Plains GP from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. Finally, Morgan Stanley reduced their price objective on shares of Plains GP from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Plains GP currently has a consensus rating of "Hold" and an average target price of $20.50.

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.