Evergreen Capital Management LLC Has $15.31 Million Stock Holdings in Plains GP Holdings, L.P. $PAGP

Key Points

• Evergreen Capital Management LLC has reduced its stake in Plains GP Holdings by 28.7%, selling 288,248 shares, which brings their total holdings to 716,698 shares worth approximately $15.3 million.
• Plains GP recently declared a quarterly dividend of $0.38 per share, yielding 7.9% annually, with a payout ratio of 220.29%.
• Wall Street analysts have varied ratings on Plains GP, with one analyst giving a Strong Buy rating, while several others maintain either neutral or hold ratings, reflecting mixed outlooks on the stock's performance.

Evergreen Capital Management LLC lessened its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 28.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 716,698 shares of the pipeline company's stock after selling 288,248 shares during the period. Evergreen Capital Management LLC owned about 0.36% of Plains GP worth $15,309,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its position in Plains GP by 233.1% during the first quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company's stock valued at $128,000 after purchasing an additional 4,195 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Plains GP in the 1st quarter valued at $135,000. McIlrath & Eck LLC purchased a new position in Plains GP during the 4th quarter worth $166,000. GAMMA Investing LLC lifted its stake in shares of Plains GP by 2,252.7% in the 1st quarter. GAMMA Investing LLC now owns 8,352 shares of the pipeline company's stock worth $178,000 after acquiring an additional 7,997 shares during the period. Finally, State of Wyoming lifted its stake in shares of Plains GP by 192.3% in the 1st quarter. State of Wyoming now owns 8,311 shares of the pipeline company's stock worth $178,000 after acquiring an additional 5,468 shares during the period. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Stock Down 1.5%

PAGP traded down $0.29 during trading on Tuesday, hitting $19.01. The company had a trading volume of 1,322,233 shares, compared to its average volume of 1,673,959. The company has a market cap of $3.76 billion, a PE ratio of 35.87 and a beta of 0.70. The business has a 50-day moving average of $19.35 and a 200-day moving average of $19.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP Holdings, L.P. has a 1-year low of $16.60 and a 1-year high of $22.31.

Plains GP Dividend Announcement

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

Analysts Set New Price Targets

PAGP has been the subject of several recent analyst reports. Wolfe Research reiterated a "peer perform" rating on shares of Plains GP in a research note on Friday, July 25th. Morgan Stanley lowered their price target on shares of Plains GP from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Tuesday, August 26th. Citigroup lowered their price target 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. Mizuho boosted their target price 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. Finally, Wall Street Zen upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $20.50.

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.