Stephens Inc. AR Purchases 15,153 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Stephens Inc. AR grew its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 222,831 shares of the pipeline company's stock after buying an additional 15,153 shares during the quarter. Stephens Inc. AR owned 0.11% of Plains GP worth $4,760,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in shares of Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock valued at $25,000 after buying an additional 520 shares during the period. Blue Trust Inc. increased its position in shares of Plains GP by 3.7% during the first quarter. Blue Trust Inc. now owns 15,344 shares of the pipeline company's stock valued at $328,000 after buying an additional 545 shares during the period. ELCO Management Co. LLC increased its position in shares of Plains GP by 2.4% during the fourth quarter. ELCO Management Co. LLC now owns 33,954 shares of the pipeline company's stock valued at $624,000 after buying an additional 802 shares during the period. NewEdge Advisors LLC increased its position in shares of Plains GP by 1.2% during the fourth quarter. NewEdge Advisors LLC now owns 78,000 shares of the pipeline company's stock valued at $1,434,000 after buying an additional 953 shares during the period. Finally, Insigneo Advisory Services LLC increased its position 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 buying an additional 1,146 shares during the period. Hedge funds and other institutional investors own 88.30% of the company's stock.

Wall Street Analyst Weigh In

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

Plains GP Stock Down 0.1%

NYSE:PAGP traded down $0.01 during mid-day trading on Wednesday, hitting $19.57. 1,215,301 shares of the company's stock were exchanged, compared to its average volume of 1,602,464. Plains GP Holdings, L.P. has a one year low of $16.61 and a one year 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 business has a fifty day moving average price of $18.80 and a 200 day moving average price of $19.73. The company has a market cap of $3.87 billion, a PE ratio of 36.93 and a beta of 0.65.

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 paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.77%. The ex-dividend date is Thursday, July 31st. Plains GP's payout ratio is currently 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.