Plains GP Holdings, L.P. $PAGP Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

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. increased its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 17.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 reporting period.

A number of other large investors also recently modified their holdings of the company. Energy Income Partners LLC increased its holdings in 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 worth $217,383,000 after purchasing an additional 203,638 shares in the last quarter. Invesco Ltd. raised its holdings in Plains GP by 42.9% during the 1st 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 during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Plains GP by 2.0% in the first 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 during the period. Two Sigma Advisers LP raised its holdings in Plains GP by 0.5% in the fourth quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company's stock worth $73,610,000 after purchasing an additional 19,900 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Plains GP by 5.2% in the first quarter. Vanguard Group Inc. now owns 3,333,055 shares of the pipeline company's stock worth $71,194,000 after purchasing an additional 165,863 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors.

Plains GP Trading Up 0.1%

PAGP traded up $0.02 on Thursday, reaching $18.60. 644,950 shares of the company traded hands, compared to its average volume of 1,652,338. Plains GP Holdings, L.P. has a one year low of $16.60 and a one year high of $22.31. The firm has a fifty day simple moving average of $19.26 and a two-hundred day simple moving average of $19.30. The company has a market cap of $3.68 billion, a P/E ratio of 35.10 and a beta of 0.76. 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 business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 8.2%. The ex-dividend date was Thursday, July 31st. Plains GP's payout ratio is 220.29%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PAGP shares. Mizuho lifted their price objective on Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, June 18th. JPMorgan Chase & Co. boosted their price target on Plains GP from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Wall Street Zen raised Plains GP from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Morgan Stanley decreased their price target on shares of Plains GP from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 26th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Plains GP in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Plains GP has a consensus rating of "Hold" and an average target price of $20.50.

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.