XTX Topco Ltd Acquires 18,890 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Key Points

• XTX Topco Ltd increased its holdings in Plains GP Holdings by 55.5% in Q1, now owning 52,948 shares valued at approximately $1,131,000.
• The company announced a quarterly dividend of $0.38 per share, reflecting an annual yield of 7.9%, with a payout ratio of 205.41%.
• Analysts have varying ratings on Plains GP, with a consensus rating of "Hold" and a target price of $20.88, while recent upgrades include Mizuho lifting its target to $22.00.

XTX Topco Ltd raised its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 55.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,948 shares of the pipeline company's stock after buying an additional 18,890 shares during the quarter. XTX Topco Ltd's holdings in Plains GP were worth $1,131,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Plains GP by 8.0% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company's stock valued at $229,989,000 after acquiring an additional 927,855 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of Plains GP by 2.0% in the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,033,000 shares of the pipeline company's stock valued at $86,145,000 after acquiring an additional 80,000 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Plains GP by 0.5% in the 4th quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company's stock valued at $73,610,000 after acquiring an additional 19,900 shares during the last quarter. Vanguard Group Inc. increased its holdings in Plains GP by 10.0% during the 4th quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company's stock valued at $58,213,000 after purchasing an additional 288,430 shares during the period. Finally, Invesco Ltd. increased its holdings in Plains GP by 0.9% during the 4th quarter. Invesco Ltd. now owns 2,932,295 shares of the pipeline company's stock valued at $53,896,000 after purchasing an additional 27,148 shares during the period. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Plains GP from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Citigroup reduced their target price on Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Wolfe Research reiterated a "peer perform" rating on shares of Plains GP in a report on Friday, July 25th. Wall Street Zen upgraded Plains GP from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Barclays reduced their target price on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $20.88.

Plains GP Stock Down 0.3%

Shares of Plains GP stock traded down $0.07 during midday trading on Tuesday, hitting $19.19. The company had a trading volume of 506,812 shares, compared to its average volume of 1,703,313. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a market capitalization of $3.80 billion, a P/E ratio of 36.20 and a beta of 0.70. The company has a 50 day moving average of $19.21 and a 200 day moving average of $19.74. Plains GP Holdings, L.P. has a 52-week low of $16.60 and a 52-week high of $22.31.

Plains GP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.52 annualized dividend and a yield of 7.9%. Plains GP's dividend payout ratio is 205.41%.

Plains GP Company 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.