HighTower Advisors LLC Has $3.16 Million Stock Position in Plains GP Holdings, L.P. $PAGP

HighTower Advisors LLC trimmed its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 26.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,248 shares of the pipeline company's stock after selling 46,202 shares during the period. HighTower Advisors LLC owned about 0.07% of Plains GP worth $3,161,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PAGP. First Bancorp Inc ME bought a new stake in shares of Plains GP during the second quarter valued at approximately $30,000. Larson Financial Group LLC acquired a new position in shares of Plains GP in the third quarter valued at $46,000. North Star Investment Management Corp. bought a new position in Plains GP in the first quarter worth $56,000. Lazard Asset Management LLC lifted its position in Plains GP by 36.5% in the second quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company's stock worth $58,000 after purchasing an additional 811 shares during the period. Finally, Continuum Advisory LLC acquired a new stake in Plains GP during the second quarter worth $61,000. Institutional investors own 88.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PAGP shares. US Capital Advisors lowered shares of Plains GP from a "strong-buy" rating to a "moderate buy" rating in a research report on Friday, May 29th. JPMorgan Chase & Co. lifted their price objective on Plains GP from $24.00 to $27.00 and gave the company a "neutral" rating in a report on Thursday, September 3rd. Truist Financial upped their price objective on Plains GP from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, July 15th. Mizuho increased their target price on Plains GP from $25.00 to $27.00 and gave the stock an "outperform" rating in a report on Monday, June 8th. Finally, The Goldman Sachs Group upgraded Plains GP from a "sell" rating to a "neutral" rating and raised their target price for the stock from $18.00 to $24.00 in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $24.18.

Plains GP Price Performance

Shares of PAGP stock opened at $27.99 on Friday. Plains GP Holdings, L.P. has a 52 week low of $16.68 and a 52 week high of $28.70. The stock has a market capitalization of $5.54 billion, a PE ratio of 52.81 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The stock's fifty day moving average is $26.34 and its 200-day moving average is $24.71.

Plains GP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.4175 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a yield of 6.0%. Plains GP's dividend payout ratio (DPR) is presently 59.86%.

Plains GP Company Profile

Plains GP Holdings, L.P. NYSE: PAGP is a publicly traded holding company that owns interests in Plains All American Pipeline, L.P. (PAA), an energy infrastructure partnership. Plains GP Holdings generally conducts its activities through its ownership and governance interests in PAA rather than through a separate operating business.

Through PAA, the company is involved in the transportation, storage, gathering, terminaling and logistics of crude oil and natural gas liquids. Its infrastructure includes pipelines, storage facilities, gathering systems, rail and truck facilities, and export and terminal assets that support the movement of energy commodities from production areas to refineries, processing facilities and other markets.

Plains' operations primarily serve the United States and Canada, with significant infrastructure in major North American crude oil and NGL producing and consuming regions.

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