21,491 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Bought by Advisor Resource Council

Advisor Resource Council acquired a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGPFree Report) during the 1st quarter, Holdings Channel.com reports. The firm acquired 21,491 shares of the pipeline company’s stock, valued at approximately $459,000.

Other hedge funds have also added to or reduced their stakes in the company. Stableford Capital II LLC bought a new position in Plains GP during the 1st quarter worth about $751,000. Blue Trust Inc. increased its holdings in Plains GP by 3.7% during the 1st quarter. Blue Trust Inc. now owns 15,344 shares of the pipeline company’s stock worth $328,000 after purchasing an additional 545 shares in the last quarter. Inscription Capital LLC bought a new position in Plains GP during the 1st quarter worth about $1,141,000. Janney Montgomery Scott LLC increased its holdings in Plains GP by 434.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 196,584 shares of the pipeline company’s stock worth $4,199,000 after purchasing an additional 159,795 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Plains GP by 15.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,879 shares of the pipeline company’s stock worth $959,000 after purchasing an additional 5,965 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Price Performance

Shares of NYSE PAGP opened at $19.66 on Monday. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 37.10 and a beta of 0.63. The business has a 50-day moving average of $18.47 and a 200-day moving average of $19.65. 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 fifty-two week low of $16.61 and a fifty-two week high of $22.31.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 7.73%. The ex-dividend date was Thursday, May 1st. Plains GP’s payout ratio is currently 205.41%.

Analysts Set New Price Targets

PAGP has been the subject of a number of research reports. Citigroup lowered their target price on Plains GP from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Mizuho increased their target price on Plains GP from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, June 18th. Morgan Stanley increased their target price on 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 price objective on Plains GP from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. raised their price objective on Plains GP from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.88.

Check Out Our Latest Stock Analysis on PAGP

Plains GP Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Plains GP (NYSE:PAGP)

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