Algert Global LLC Has $17.13 Million Stake in Plains GP Holdings, L.P. $PAGP

Key Points

• Algert Global LLC increased its holdings in Plains GP Holdings by 3.7%, acquiring a total of 801,880 shares, representing about 0.4% of its investment portfolio.
• Plains GP recently declared a quarterly dividend of $0.38 per share, translating to an annualized dividend of $1.52 and a dividend yield of 8.1%.
• The stock has been rated as "hold" by the majority of analysts, with a consensus target price of $20.88.

Algert Global LLC increased its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 801,880 shares of the pipeline company's stock after purchasing an additional 28,914 shares during the quarter. Plains GP comprises about 0.4% of Algert Global LLC's holdings, making the stock its 10th largest position. Algert Global LLC owned 0.41% of Plains GP worth $17,128,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC grew its position in Plains GP by 18.0% during the first quarter. Catalyst Capital Advisors LLC now owns 885,873 shares of the pipeline company's stock worth $18,922,000 after buying an additional 134,943 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Plains GP by 15.8% during the first quarter. Envestnet Asset Management Inc. now owns 329,813 shares of the pipeline company's stock worth $7,045,000 after buying an additional 44,948 shares in the last quarter. Cetera Investment Advisers grew its position in Plains GP by 7.4% during the first quarter. Cetera Investment Advisers now owns 194,723 shares of the pipeline company's stock worth $4,159,000 after buying an additional 13,424 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Plains GP by 434.4% during the first quarter. Janney Montgomery Scott LLC now owns 196,584 shares of the pipeline company's stock worth $4,199,000 after buying an additional 159,795 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Plains GP by 70.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 110,504 shares of the pipeline company's stock worth $2,360,000 after buying an additional 45,577 shares in the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Plains GP Price Performance

PAGP stock traded up $0.05 during mid-day trading on Thursday, hitting $18.91. 2,138,400 shares of the stock were exchanged, compared to its average volume of 1,691,573. 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 business has a fifty day moving average price of $19.40 and a 200 day moving average price of $19.55. Plains GP Holdings, L.P. has a 12 month low of $16.60 and a 12 month high of $22.31. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 35.68 and a beta of 0.70.

Plains GP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend was Thursday, July 31st. Plains GP's payout ratio is 220.29%.

Wall Street Analyst Weigh In

PAGP has been the subject of several recent analyst reports. Wolfe Research restated a "peer perform" rating on shares of Plains GP in a research report on Friday, July 25th. JPMorgan Chase & Co. lifted 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. Citigroup dropped their price target on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Mizuho lifted their price target on Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 18th. Finally, Wall Street Zen raised Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price 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.