Northside Capital Management LLC Makes New $843,000 Investment in Plains GP Holdings, L.P. $PAGP

Key Points

• Northside Capital Management LLC has invested approximately $843,000 in 43,398 shares of Plains GP Holdings, L.P. during the 2nd quarter.
• Institutional investor holdings in Plains GP now account for 88.30% of the stock, with several firms increasing their positions recently.
• Analysts have set a consensus target price of $20.50 for Plains GP, with ratings ranging from "Strong Buy" to "Sell."

Northside Capital Management LLC bought a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 43,398 shares of the pipeline company's stock, valued at approximately $843,000.

Several other institutional investors also recently made changes to their positions in the stock. Energy Income Partners LLC boosted its position 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 worth $217,383,000 after purchasing an additional 203,638 shares in the last quarter. Chickasaw Capital Management LLC boosted its position in shares of 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 purchasing an additional 167,061 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Plains GP by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,220,898 shares of the pipeline company's stock worth $111,518,000 after purchasing an additional 29,911 shares in the last quarter. Invesco Ltd. boosted its position in shares of Plains GP by 42.9% during the 1st quarter. Invesco Ltd. now owns 4,190,610 shares of the pipeline company's stock worth $89,511,000 after purchasing 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% during 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 purchasing an additional 80,000 shares in the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Plains GP Trading Up 1.7%

Shares of PAGP stock opened at $18.43 on Wednesday. The firm has a 50-day moving average price of $19.07 and a 200 day moving average price of $19.13. Plains GP Holdings, L.P. has a twelve month low of $16.60 and a twelve month high of $22.31. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 34.77 and a beta of 0.77. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

Plains GP Announces Dividend

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

Plains GP 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.

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