U.S. Capital Wealth Advisors LLC Buys 61,056 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

U.S. Capital Wealth Advisors LLC boosted its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 170.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 reporting period.

A number of other hedge funds have also added to or reduced their stakes in PAGP. Jones Financial Companies Lllp grew its stake 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 buying an additional 520 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Plains GP by 3.7% during the first quarter. Blue Trust Inc. now owns 15,344 shares of the pipeline company's stock worth $328,000 after buying an additional 545 shares during the last quarter. ELCO Management Co. LLC grew its stake in shares of Plains GP by 2.4% during the fourth quarter. ELCO Management Co. LLC now owns 33,954 shares of the pipeline company's stock worth $624,000 after buying an additional 802 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Plains GP by 1.2% during the fourth quarter. NewEdge Advisors LLC now owns 78,000 shares of the pipeline company's stock worth $1,434,000 after buying an additional 953 shares during the last quarter. Finally, Insigneo Advisory Services LLC grew its stake in shares of Plains GP by 11.3% during the fourth quarter. Insigneo Advisory Services LLC now owns 11,283 shares of the pipeline company's stock worth $207,000 after buying an additional 1,146 shares during the last quarter. 88.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PAGP. Barclays cut their price target on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. lifted their price target on shares of Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Morgan Stanley lifted their price target on shares of Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 25th. Mizuho lifted 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, Wall Street Zen upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $20.88.

Plains GP Trading Up 0.1%

PAGP traded up $0.02 during trading on Wednesday, reaching $19.57. 1,475,823 shares of the stock traded hands, compared to its average volume of 1,597,441. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $3.87 billion, a PE ratio of 36.93 and a beta of 0.65. The stock's 50-day moving average is $18.58 and its 200 day moving average is $19.68. Plains GP Holdings, L.P. has a 12 month low of $16.61 and a 12 month high of $22.31.

Plains GP Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 7.77%. Plains GP's dividend payout ratio (DPR) 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.