27,899 Shares in Plains GP Holdings, L.P. $PAGP Bought by Kapitalo Investimentos Ltda

Key Points

• Kapitalo Investimentos Ltda purchased 27,899 shares of Plains GP Holdings, valued at approximately $542,000, marking a new investment reported in their latest 13F filing.
• Institutional investors and hedge funds own 88.30% of Plains GP's stock, indicating strong institutional interest in the company.
• Plains GP recently declared a quarterly dividend of $0.38, resulting in an annualized yield of 8.3%.

Kapitalo Investimentos Ltda bought a new stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,899 shares of the pipeline company's stock, valued at approximately $542,000.

A number of other hedge funds also recently added to or reduced their stakes in PAGP. Energy Income Partners LLC increased its holdings in shares of Plains GP by 2.0% during the 1st quarter. Energy Income Partners LLC now owns 10,177,085 shares of the pipeline company's stock valued at $217,383,000 after purchasing an additional 203,638 shares in the last quarter. Chickasaw Capital Management LLC raised its stake in Plains GP by 2.0% during the 2nd quarter. Chickasaw Capital Management LLC now owns 8,338,521 shares of the pipeline company's stock worth $162,017,000 after acquiring an additional 167,061 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Plains GP by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,220,898 shares of the pipeline company's stock valued at $111,518,000 after acquiring an additional 29,911 shares during the period. Invesco Ltd. boosted its stake in shares of Plains GP by 42.9% in the first quarter. Invesco Ltd. now owns 4,190,610 shares of the pipeline company's stock valued at $89,511,000 after buying an additional 1,258,315 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of Plains GP by 2.0% in the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,033,000 shares of the pipeline company's stock worth $86,145,000 after buying an additional 80,000 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on PAGP. Wolfe Research reissued a "peer perform" rating on shares of Plains GP in a research report on Friday, July 25th. Morgan Stanley decreased their target price on Plains GP from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 26th. Mizuho boosted their target price on shares of Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 18th. JPMorgan Chase & Co. dropped their price objective on Plains GP from $21.00 to $20.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, Zacks Research downgraded Plains GP from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. One research 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 given a Sell rating to the stock. According to MarketBeat, Plains GP has an average rating of "Hold" and an average target price of $20.50.

Plains GP Stock Down 0.9%

PAGP stock traded down $0.16 during mid-day trading on Monday, reaching $18.12. 1,021,998 shares of the company traded hands, compared to its average volume of 1,631,595. Plains GP Holdings, L.P. has a fifty-two week low of $16.60 and a fifty-two week high of $22.31. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 34.19 and a beta of 0.76. The firm's 50 day moving average price is $19.09 and its 200 day moving average price is $19.14. 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.4%. The ex-dividend date was Thursday, July 31st. Plains GP's dividend payout ratio is 220.29%.

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.