RVW Wealth LLC Makes New Investment in Plains GP Holdings, L.P. $PAGP

Key Points

• RVW Wealth LLC acquired 100,000 Plains GP shares worth approximately $2.59 million, while institutional investors collectively own 88.3% of the company.
• Plains GP announced a quarterly dividend of $0.4175 per share, equivalent to $1.67 annually and a 6.4% yield.
• PAGP shares traded at $26.24, near the upper end of their 52-week range. Analysts maintain a consensus “Hold” rating with an average price target of $24.91.

RVW Wealth LLC acquired a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 100,000 shares of the pipeline company's stock, valued at approximately $2,590,000. RVW Wealth LLC owned about 0.05% of Plains GP as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. First Bancorp Inc ME purchased a new stake in shares of Plains GP in the second quarter valued at about $30,000. North Star Investment Management Corp. purchased a new position in shares of Plains GP during the first quarter worth about $56,000. Continuum Advisory LLC acquired a new position in Plains GP in the 2nd quarter valued at about $61,000. Ameritas Advisory Services LLC acquired a new position in Plains GP in the 2nd quarter valued at about $64,000. Finally, O Domhnaill Enterprises Inc. purchased a new stake in Plains GP during the 1st quarter valued at approximately $66,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Performance

NYSE:PAGP traded up $0.06 during mid-day trading on Tuesday, reaching $26.24. The stock had a trading volume of 1,245,363 shares, compared to its average volume of 1,783,234. 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 firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 49.51 and a beta of 0.54. Plains GP Holdings, L.P. has a twelve month low of $16.68 and a twelve month high of $28.70. The business has a 50 day simple moving average of $26.80 and a 200 day simple moving average of $25.17.

Plains GP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Friday, October 30th. Plains GP's dividend payout ratio is 59.86%.

Analyst Ratings Changes

A number of research firms have weighed in on PAGP. Zacks Research raised Plains GP from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 22nd. Morgan Stanley boosted their target price on Plains GP from $26.00 to $28.00 and gave the company an "equal weight" rating in a report on Tuesday, August 18th. Truist Financial upped their price target on Plains GP from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. Citigroup increased their price target on Plains GP from $23.00 to $27.00 and gave the stock a "neutral" rating in a report on Thursday, September 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Plains GP from $24.00 to $27.00 and gave the company a "neutral" rating in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $24.91.

About Plains GP

Plains GP Holdings, L.P. is a publicly traded holding company that owns interests in Plains All American Pipeline, L.P. Its business exposure is primarily derived from Plains All American, which operates energy infrastructure used to transport, store, gather and handle crude oil and natural gas liquids.

Through its ownership interests in Plains All American and its general partner structure, Plains GP Holdings provides investors with an indirect interest in the operations of one of North America's major midstream energy companies.

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