Plains GP Holdings, L.P. (NYSE:PAGP) Shares Bought by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC increased its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 170.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 96,844 shares of the pipeline company's stock after acquiring an additional 61,056 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Plains GP were worth $2,069,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PAGP. Catalyst Capital Advisors LLC raised its holdings in Plains GP by 18.0% during the first quarter. Catalyst Capital Advisors LLC now owns 885,873 shares of the pipeline company's stock valued at $18,922,000 after buying an additional 134,943 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Plains GP by 434.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 196,584 shares of the pipeline company's stock valued at $4,199,000 after purchasing an additional 159,795 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Plains GP by 70.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 110,504 shares of the pipeline company's stock worth $2,360,000 after acquiring an additional 45,577 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Plains GP by 27.2% in the 4th quarter. Northern Trust Corp now owns 80,964 shares of the pipeline company's stock worth $1,488,000 after acquiring an additional 17,333 shares in the last quarter. Finally, PFG Investments LLC acquired a new position in Plains GP during the 1st quarter worth $804,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Up 0.8%

Shares of NYSE PAGP traded up $0.15 during midday trading on Friday, hitting $19.80. The stock had a trading volume of 887,293 shares, compared to its average volume of 1,600,557. The business's 50 day moving average is $18.68 and its 200-day moving average is $19.70. The company has a market cap of $3.92 billion, a P/E ratio of 37.36 and a beta of 0.65. Plains GP Holdings, L.P. has a 52 week low of $16.61 and a 52 week high of $22.31. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.52 annualized dividend and a yield of 7.68%. Plains GP's dividend payout ratio (DPR) is currently 205.41%.

Wall Street Analysts Forecast Growth

PAGP has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 25th. Wall Street Zen upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barclays lowered their price objective on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. Mizuho upped their price target on shares of Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, June 18th. Finally, Citigroup cut 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $20.88.

About Plains GP

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.