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

Nuveen LLC acquired a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 87,145 shares of the pipeline company's stock, valued at approximately $1,861,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of Plains GP by 61.7% in the fourth 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 in the last quarter. Blue Trust Inc. lifted its stake in shares of Plains GP by 3.7% in the first quarter. Blue Trust Inc. now owns 15,344 shares of the pipeline company's stock worth $328,000 after acquiring an additional 545 shares in the last quarter. ELCO Management Co. LLC lifted its stake in shares of Plains GP by 2.4% in the fourth quarter. ELCO Management Co. LLC now owns 33,954 shares of the pipeline company's stock worth $624,000 after acquiring an additional 802 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Plains GP by 1.2% in the fourth quarter. NewEdge Advisors LLC now owns 78,000 shares of the pipeline company's stock worth $1,434,000 after acquiring an additional 953 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. lifted its stake 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. Institutional investors and hedge funds own 88.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Mizuho boosted their price objective on Plains GP from $20.00 to $22.00 and gave the company an "outperform" 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. Barclays lowered their price objective on Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a report on Thursday, April 10th. Finally, Citigroup lowered their price objective on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Plains GP currently has a consensus rating of "Hold" and a consensus price target of $20.88.

Plains GP Stock Down 0.8%

Plains GP stock traded down $0.15 during midday trading on Monday, hitting $19.65. The stock had a trading volume of 1,184,355 shares, compared to its average volume of 1,598,893. The stock has a market cap of $3.89 billion, a P/E ratio of 37.08 and a beta of 0.65. The business has a fifty day moving average price of $18.68 and a 200 day moving average price of $19.72. Plains GP Holdings, L.P. has a 12 month low of $16.61 and a 12 month high of $22.31. 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 announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 7.74%. The ex-dividend date of this dividend is Thursday, July 31st. Plains GP's dividend payout ratio (DPR) is presently 205.41%.

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.