Plains GP Holdings, L.P. (NYSE:PAGP) Stock Holdings Cut by RR Advisors LLC

Key Points

• RR Advisors LLC has reduced its stake in Plains GP Holdings by 11.1%, now holding 1,215,000 shares valued at approximately $25.96 million.
• Plains GP announced a quarterly dividend of $0.38 per share, translating to an annualized yield of 8.0% with a high dividend payout ratio of 220.29%.
• Wall Street analysts generally maintain a "Hold" rating on Plains GP, with a consensus price target of $20.88, though recommendations vary among firms.

RR Advisors LLC trimmed its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 11.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,215,000 shares of the pipeline company's stock after selling 151,000 shares during the period. Plains GP comprises 6.2% of RR Advisors LLC's portfolio, making the stock its 8th biggest holding. RR Advisors LLC owned about 0.61% of Plains GP worth $25,959,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PAGP. Blue Trust Inc. lifted its position in 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 purchasing an additional 545 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Plains GP by 1.2% during the 4th 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 in the last quarter. Pin Oak Investment Advisors Inc. lifted its position in shares of Plains GP by 1.3% during the 1st quarter. Pin Oak Investment Advisors Inc. now owns 83,779 shares of the pipeline company's stock valued at $1,758,000 after buying an additional 1,035 shares in the last quarter. Insigneo Advisory Services LLC lifted its position in shares of Plains GP by 11.3% during the 4th 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 in the last quarter. Finally, Leisure Capital Management lifted its holdings in Plains GP by 2.7% during the first quarter. Leisure Capital Management now owns 52,064 shares of the pipeline company's stock valued at $1,112,000 after purchasing an additional 1,390 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Mizuho lifted their price target on shares of Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, June 18th. JPMorgan Chase & Co. upped their target price on shares of Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Citigroup dropped their target price on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Wall Street Zen upgraded Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Wolfe Research restated a "peer perform" rating on shares of Plains GP in a research report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $20.88.

Plains GP Price Performance

NYSE:PAGP opened at $19.05 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $3.77 billion, a P/E ratio of 35.94 and a beta of 0.70. Plains GP Holdings, L.P. has a 12 month low of $16.60 and a 12 month high of $22.31. The business's 50-day moving average is $19.39 and its 200 day moving average is $19.63.

Plains GP Dividend Announcement

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

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.

Want to see what other hedge funds are holding PAGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plains GP Holdings, L.P. (NYSE:PAGP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.