Plains GP Holdings, L.P. $PAGP is Energy Income Partners LLC's 5th Largest Position

Key Points

• Energy Income Partners LLC raised its stake in Plains GP Holdings by 2.0%, owning over 10 million shares, which represents 4.2% of its investment portfolio.
• Plains GP recently declared a quarterly dividend of $0.38, yielding approximately 7.9%, with a high payout ratio of 220.29%.
• Analysts have recently set new price targets for Plains GP, with an average target of $20.50, reflecting mixed ratings from various research firms.

Energy Income Partners LLC raised its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,177,085 shares of the pipeline company's stock after acquiring an additional 203,638 shares during the quarter. Plains GP comprises 4.2% of Energy Income Partners LLC's holdings, making the stock its 5th largest position. Energy Income Partners LLC owned 5.15% of Plains GP worth $217,383,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Invesco Ltd. grew its position in shares of Plains GP by 42.9% during the 1st quarter. Invesco Ltd. now owns 4,190,610 shares of the pipeline company's stock worth $89,511,000 after purchasing an additional 1,258,315 shares in the last quarter. Algert Global LLC grew its position in shares of Plains GP by 781.8% during the 4th quarter. Algert Global LLC now owns 772,966 shares of the pipeline company's stock worth $14,207,000 after purchasing an additional 685,307 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Plains GP by 25.8% during the 1st quarter. Hsbc Holdings PLC now owns 2,563,031 shares of the pipeline company's stock worth $54,746,000 after purchasing an additional 526,215 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Plains GP during the 1st quarter worth approximately $10,322,000. Finally, Gilman Hill Asset Management LLC acquired a new position in shares of Plains GP during the 1st quarter worth approximately $6,044,000. 88.30% of the stock is owned by institutional investors.

Plains GP Stock Down 0.1%

Shares of NYSE:PAGP traded down $0.01 during midday trading on Thursday, hitting $18.75. 782,576 shares of the company's stock were exchanged, compared to its average volume of 1,666,767. 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 stock has a 50 day moving average price of $19.34 and a 200-day moving average price of $19.40. The company has a market cap of $3.71 billion, a PE ratio of 35.38 and a beta of 0.77. Plains GP Holdings, L.P. has a 12 month low of $16.60 and a 12 month high of $22.31.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.52 annualized dividend and a dividend yield of 8.1%. Plains GP's payout ratio is 220.29%.

Wall Street Analysts Forecast Growth

PAGP has been the topic of several analyst reports. 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. Wolfe Research restated a "peer perform" rating on shares of Plains GP in a research report on Friday, July 25th. JPMorgan Chase & Co. raised their target price 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. Morgan Stanley cut their price target on shares of Plains GP from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 26th. 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 investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $20.50.

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.