483,218 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Purchased by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC bought a new stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 483,218 shares of the pipeline company's stock, valued at approximately $10,322,000. Plains GP makes up approximately 1.5% of Turtle Creek Wealth Advisors LLC's investment portfolio, making the stock its 14th largest position. Turtle Creek Wealth Advisors LLC owned approximately 0.24% of Plains GP as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Jones Financial Companies Lllp raised its holdings 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 worth $25,000 after acquiring an additional 520 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Plains GP during the fourth quarter worth $5,214,000. Farther Finance Advisors LLC raised its holdings in shares of Plains GP by 8,120.7% during the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock worth $44,000 after acquiring an additional 2,355 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Plains GP by 17.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 40,124 shares of the pipeline company's stock worth $737,000 after acquiring an additional 5,949 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Plains GP by 0.8% during the fourth quarter. Swiss National Bank now owns 387,934 shares of the pipeline company's stock worth $7,130,000 after acquiring an additional 2,900 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PAGP shares. Citigroup cut their price objective on 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 report on Friday, May 16th. Morgan Stanley raised their target price on Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, March 25th. JPMorgan Chase & Co. raised their target price on Plains GP from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Finally, Mizuho raised their target price on Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Plains GP presently has an average rating of "Hold" and a consensus target price of $20.88.

Plains GP Stock Performance

Shares of NYSE:PAGP traded up $0.14 during midday trading on Thursday, hitting $19.71. The company's stock had a trading volume of 1,015,262 shares, compared to its average volume of 1,602,604. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 37.19 and a beta of 0.65. The stock's 50 day simple moving average is $18.83 and its 200 day simple moving average is $19.74. Plains GP Holdings, L.P. has a fifty-two week low of $16.61 and a fifty-two week high of $22.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.71%. The ex-dividend date of this dividend is Thursday, July 31st. Plains GP's dividend payout ratio is currently 205.41%.

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.