Nuveen LLC Takes $1.86 Million Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Nuveen LLC bought a new position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 87,145 shares of the pipeline company's stock, valued at approximately $1,861,000.

Several other hedge funds also recently made changes to their positions in PAGP. Jones Financial Companies Lllp boosted its position in Plains GP by 61.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock worth $25,000 after acquiring an additional 520 shares during the period. Raymond James Financial Inc. acquired a new position in Plains GP during the 4th quarter worth $5,214,000. Farther Finance Advisors LLC boosted its position in Plains GP by 8,120.7% during the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock worth $44,000 after acquiring an additional 2,355 shares during the period. Avantax Advisory Services Inc. boosted its position in Plains GP by 17.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 40,124 shares of the pipeline company's stock worth $737,000 after acquiring an additional 5,949 shares during the period. Finally, Swiss National Bank boosted its position in Plains GP by 0.8% during the 4th quarter. Swiss National Bank now owns 387,934 shares of the pipeline company's stock worth $7,130,000 after acquiring an additional 2,900 shares during the period. Institutional investors and hedge funds own 88.30% of the company's stock.

Plains GP Trading Up 0.8%

Plains GP stock traded up $0.15 during midday trading on Friday, reaching $19.80. The stock had a trading volume of 887,293 shares, compared to its average volume of 1,598,209. Plains GP Holdings, L.P. has a twelve month low of $16.61 and a twelve month high of $22.31. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 37.36 and a beta of 0.65. The firm's fifty day simple moving average is $18.63 and its two-hundred day simple moving average is $19.69.

Plains GP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.68%. The ex-dividend date of this dividend is Thursday, July 31st. Plains GP's dividend payout ratio (DPR) is currently 205.41%.

Analyst Ratings Changes

A number of research analysts have issued reports on PAGP shares. Mizuho boosted their price target on Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 18th. Wall Street Zen upgraded Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barclays reduced their price target on Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. Citigroup dropped their price objective on Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $20.88.

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.