HF Advisory Group LLC Increases Stake in Plains GP Holdings, L.P. $PAGP

Key Points

• HF Advisory Group LLC boosted its stake in Plains GP by 37.9% in Q4 to 266,276 shares, worth about $5.10 million (≈0.13% ownership).
• Institutional investors own 88.30% of the company, with several firms (notably Chickasaw Capital at ~8.83M shares) meaningfully increasing positions during recent quarters.
• The stock has a consensus rating of "Hold" with an average price target of $21.60 while shares traded around $23.72; Plains GP pays a 7.0% yield ($1.67 annualized) but carries a high payout ratio of 129.46%, suggesting dividend sustainability risk.

HF Advisory Group LLC boosted its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 37.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 266,276 shares of the pipeline company's stock after purchasing an additional 73,248 shares during the period. HF Advisory Group LLC owned about 0.13% of Plains GP worth $5,097,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Caprock Group LLC acquired a new stake in shares of Plains GP in the third quarter valued at about $3,088,000. Chickasaw Capital Management LLC lifted its stake in Plains GP by 5.9% in the 3rd quarter. Chickasaw Capital Management LLC now owns 8,832,780 shares of the pipeline company's stock valued at $161,110,000 after buying an additional 494,259 shares in the last quarter. CWA Asset Management Group LLC boosted its stake in shares of Plains GP by 19.3% during the fourth quarter. CWA Asset Management Group LLC now owns 156,306 shares of the pipeline company's stock valued at $2,992,000 after acquiring an additional 25,321 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Plains GP by 75.3% during the 2nd quarter. Osaic Holdings Inc. now owns 291,320 shares of the pipeline company's stock worth $5,661,000 after purchasing an additional 125,169 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC grew its stake in Plains GP by 16.8% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 800,863 shares of the pipeline company's stock worth $14,608,000 after acquiring an additional 115,020 shares during the period. Institutional investors and hedge funds own 88.30% of the company's stock.

Analyst Upgrades and Downgrades

PAGP has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on Plains GP from $22.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, March 18th. Mizuho set a $23.00 price target on shares of Plains GP in a research note on Friday, January 23rd. Wells Fargo & Company upped their target price on Plains GP from $21.00 to $22.00 and gave the company an "equal weight" rating in a research report on Friday, March 13th. Bank of America lowered shares of Plains GP from a "neutral" rating to an "underperform" rating and set a $19.00 target price on the stock. in a research note on Wednesday, January 28th. Finally, Zacks Research cut Plains GP from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $21.60.

Plains GP Stock Performance

Shares of PAGP stock opened at $23.72 on Thursday. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 44.76 and a beta of 0.56. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP Holdings, L.P. has a 12-month low of $16.60 and a 12-month high of $24.75. The business has a 50 day simple moving average of $22.37 and a 200 day simple moving average of $19.79.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a dividend of $0.4175 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.67 annualized dividend and a yield of 7.0%. Plains GP's payout ratio is presently 129.46%.

About Plains GP

Plains GP Holdings, L.P. NYSE: PAGP serves as the general partner of Plains All American Pipeline, L.P., one of North America's leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company's primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.

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