HighTower Advisors LLC Increases Stake in Plains GP Holdings, L.P. $PAGP

HighTower Advisors LLC grew its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 4.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 402,691 shares of the pipeline company's stock after buying an additional 15,322 shares during the quarter. HighTower Advisors LLC owned 0.20% of Plains GP worth $8,601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAGP. Golden State Wealth Management LLC boosted its holdings in Plains GP by 233.1% during the 1st quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company's stock valued at $128,000 after acquiring an additional 4,195 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Plains GP during the first quarter worth $135,000. McIlrath & Eck LLC purchased a new stake in shares of Plains GP during the fourth quarter valued at $166,000. GAMMA Investing LLC grew its holdings in shares of Plains GP by 2,252.7% in the first quarter. GAMMA Investing LLC now owns 8,352 shares of the pipeline company's stock worth $178,000 after purchasing an additional 7,997 shares during the last quarter. Finally, Baker Avenue Asset Management LP bought a new position in shares of Plains GP in the first quarter worth about $203,000. 88.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PAGP. Citigroup decreased their price objective on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Wolfe Research reaffirmed a "peer perform" rating on shares of Plains GP in a research note on Friday, July 25th. Mizuho increased their price objective on Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 18th. JPMorgan Chase & Co. raised their price objective on Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. 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 Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Plains GP presently has a consensus rating of "Hold" and an average price target of $20.88.

Plains GP Stock Up 0.7%

Plains GP stock traded up $0.1360 during midday trading on Thursday, hitting $18.9960. 1,443,640 shares of the company's stock were exchanged, compared to its average volume of 1,686,960. The company has a market cap of $3.76 billion, a PE ratio of 35.90 and a beta of 0.70. The firm has a 50-day moving average of $19.40 and a two-hundred day moving average of $19.55. Plains GP Holdings, L.P. has a 12 month low of $16.60 and a 12 month high of $22.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Plains GP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.0%. The ex-dividend date of this dividend was Thursday, July 31st. Plains GP's dividend payout ratio is presently 220.29%.

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.