MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $54.68 Million Holdings in Plains GP Holdings, L.P. $PAGP

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Plains GP Holdings by 17.9%, acquiring an additional 389,096 shares during the first quarter, bringing its total ownership to approximately $54.68 million.
• Several other institutional investors have also boosted their holdings in Plains GP, with 88.30% of the stock now owned by such investors.
• Plains GP recently announced a quarterly dividend of $0.38 per share, resulting in an annualized yield of 8.3%, despite a high dividend payout ratio of 220.29%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 17.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,559,937 shares of the pipeline company's stock after acquiring an additional 389,096 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.29% of Plains GP worth $54,680,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in shares of Plains GP by 3.7% during the 1st 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. increased its position 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 worth $1,758,000 after acquiring an additional 1,035 shares in the last quarter. Leisure Capital Management raised its stake in shares of Plains GP by 2.7% in the 1st quarter. Leisure Capital Management now owns 52,064 shares of the pipeline company's stock valued at $1,112,000 after acquiring an additional 1,390 shares during the period. Wealth Alliance Advisory Group LLC lifted its holdings in shares of Plains GP by 13.3% during the 1st quarter. Wealth Alliance Advisory Group LLC now owns 12,350 shares of the pipeline company's stock valued at $264,000 after acquiring an additional 1,449 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Plains GP by 0.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 424,072 shares of the pipeline company's stock valued at $7,794,000 after acquiring an additional 1,997 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company's stock.

Plains GP Stock Performance

NYSE PAGP traded up $0.10 during trading hours on Tuesday, reaching $18.51. The company's stock had a trading volume of 722,611 shares, compared to its average volume of 1,662,947. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The business has a 50-day simple moving average of $19.28 and a 200 day simple moving average of $19.30. Plains GP Holdings, L.P. has a 52 week low of $16.60 and a 52 week high of $22.31. The stock has a market cap of $3.66 billion, a PE ratio of 34.93 and a beta of 0.76.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date was Thursday, July 31st. Plains GP's dividend payout ratio (DPR) is currently 220.29%.

Analyst Ratings Changes

PAGP has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Plains GP from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Morgan Stanley dropped their target price on Plains GP from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 26th. Wolfe Research restated a "peer perform" rating on shares of Plains GP in a research note on Friday, July 25th. Citigroup lowered their target price on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Wall Street Zen raised Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $20.50.

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.