Vident Advisory LLC Buys New Shares in Plains GP Holdings, L.P. (NYSE:PAGP)

Vident Advisory LLC acquired a new stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 95,253 shares of the pipeline company's stock, valued at approximately $1,751,000.

Other large investors also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. boosted its holdings in Plains GP by 8.0% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company's stock valued at $229,989,000 after acquiring an additional 927,855 shares during the period. Clearbridge Investments LLC increased its holdings in Plains GP by 11.7% in the 4th quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company's stock valued at $113,077,000 after buying an additional 646,130 shares during the period. Two Sigma Advisers LP grew its holdings in shares of Plains GP by 0.5% in the 4th quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company's stock worth $73,610,000 after purchasing an additional 19,900 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Plains GP by 10.0% in the 4th quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company's stock worth $58,213,000 after purchasing an additional 288,430 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Plains GP by 0.9% in the 4th quarter. Invesco Ltd. now owns 2,932,295 shares of the pipeline company's stock worth $53,896,000 after purchasing an additional 27,148 shares during the last quarter. 88.30% of the stock is owned by institutional investors.

Plains GP Stock Performance

Plains GP stock traded down $0.17 during midday trading on Wednesday, hitting $17.92. The company's stock had a trading volume of 414,389 shares, compared to its average volume of 1,528,720. The company has a 50-day moving average price of $18.90 and a two-hundred day moving average price of $19.69. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 33.89 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP Holdings, L.P. has a 1-year low of $16.61 and a 1-year high of $22.31.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 8.48%. The ex-dividend date of this dividend was Thursday, May 1st. Plains GP's dividend payout ratio is 205.41%.

Wall Street Analysts Forecast Growth

PAGP has been the topic of a number of research analyst reports. Raymond James increased their price objective on shares of Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 28th. Mizuho dropped their price objective on shares of Plains GP from $21.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, May 20th. Morgan Stanley raised their price objective 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. Barclays decreased their target price 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. Finally, Wall Street Zen raised shares of Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $20.71.

Plains GP Company 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.