Vident Advisory LLC Increases Stock Holdings in Plains GP Holdings, L.P. $PAGP

Key Points

• Vident Advisory LLC increased its holdings in Plains GP Holdings, L.P. by 25.5% during the first quarter, now owning approximately $2.55 million worth of shares.
• Plains GP announced a quarterly dividend of $0.38, representing an annualized yield of 7.9% and a payout ratio of 220.29%.
• Analysts have given Plains GP an average rating of Hold with a consensus price target of $20.50, with varying ratings from strong buy to sell.

Vident Advisory LLC grew its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 25.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,547 shares of the pipeline company's stock after acquiring an additional 24,294 shares during the quarter. Vident Advisory LLC owned about 0.06% of Plains GP worth $2,554,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC boosted its holdings in shares of Plains GP by 233.1% in the first quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company's stock valued at $128,000 after acquiring an additional 4,195 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Plains GP during the first quarter worth $135,000. State of Wyoming lifted its holdings in shares of Plains GP by 192.3% during the first quarter. State of Wyoming now owns 8,311 shares of the pipeline company's stock worth $178,000 after purchasing an additional 5,468 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Plains GP by 2,252.7% during the first quarter. GAMMA Investing LLC now owns 8,352 shares of the pipeline company's stock worth $178,000 after purchasing an additional 7,997 shares during the period. Finally, McIlrath & Eck LLC acquired a new stake in shares of Plains GP during the fourth quarter worth $166,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PAGP shares. JPMorgan Chase & Co. increased their price target on Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Citigroup decreased their price target on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Wolfe Research reaffirmed a "peer perform" rating on shares of Plains GP in a report on Friday, July 25th. Morgan Stanley decreased their price target on Plains GP from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Tuesday, August 26th. Finally, Mizuho increased their price target on Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Plains GP currently has an average rating of "Hold" and an average target price of $20.50.

Plains GP Price Performance

Plains GP stock traded down $0.01 during midday trading on Thursday, reaching $18.75. The company's stock had a trading volume of 782,641 shares, compared to its average volume of 1,668,585. Plains GP Holdings, L.P. has a fifty-two week low of $16.60 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. The stock's 50 day simple moving average is $19.34 and its 200 day simple moving average is $19.40. The firm has a market capitalization of $3.71 billion, a PE ratio of 35.38 and a beta of 0.77.

Plains GP Dividend Announcement

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

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.