Plains GP Holdings, L.P. (NYSE:PAGP) Shares Acquired by Private Advisor Group LLC

Key Points

• Private Advisor Group LLC increased its holdings in Plains GP Holdings by 38.4% in the first quarter, owning a total of 57,133 shares valued at $1.22 million.
• Several institutional investors have boosted their stakes significantly, with Golden State Wealth Management increasing its stake by 233.1%.
• The company declared a quarterly dividend of $0.38, which will yield about 7.67% annually, with an ex-dividend date of July 31st.

Private Advisor Group LLC increased its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 38.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 57,133 shares of the pipeline company's stock after buying an additional 15,840 shares during the period. Private Advisor Group LLC's holdings in Plains GP were worth $1,220,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC boosted its stake in Plains GP by 233.1% in the first quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company's stock valued at $128,000 after acquiring an additional 4,195 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Plains GP during the 4th quarter valued at approximately $158,000. McIlrath & Eck LLC acquired a new position in Plains GP during the 4th quarter valued at approximately $166,000. GAMMA Investing LLC boosted its holdings in shares of Plains GP by 2,252.7% during the first quarter. GAMMA Investing LLC now owns 8,352 shares of the pipeline company's stock valued at $178,000 after acquiring an additional 7,997 shares during the period. Finally, Insigneo Advisory Services LLC boosted its holdings in shares of Plains GP by 11.3% during the fourth quarter. Insigneo Advisory Services LLC now owns 11,283 shares of the pipeline company's stock valued at $207,000 after acquiring an additional 1,146 shares during the period. 88.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PAGP has been the subject of a number of analyst reports. Wall Street Zen raised shares of Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. 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 report on Wednesday, June 18th. Barclays reduced their price objective 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. Mizuho upped their price objective on shares of Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, June 18th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Plains GP in a report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $20.88.

Plains GP Trading Down 1.3%

Shares of Plains GP stock opened at $19.82 on Friday. Plains GP Holdings, L.P. has a fifty-two week low of $16.60 and a fifty-two week high of $22.31. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 37.40 and a beta of 0.65. The business has a fifty day simple moving average of $19.01 and a 200-day simple moving average of $19.79.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.67%. The ex-dividend date is Thursday, July 31st. Plains GP's payout ratio is 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.

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