Alps Advisors Inc. Purchases 29,411 Shares of Plains GP Holdings, L.P. $PAGP

Alps Advisors Inc. lifted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 2.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,204,792 shares of the pipeline company’s stock after purchasing an additional 29,411 shares during the quarter. Alps Advisors Inc.’s holdings in Plains GP were worth $21,975,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in Plains GP by 2.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,117,959 shares of the pipeline company’s stock worth $196,592,000 after purchasing an additional 247,365 shares during the last quarter. Chickasaw Capital Management LLC raised its holdings in shares of Plains GP by 5.9% in the third quarter. Chickasaw Capital Management LLC now owns 8,832,780 shares of the pipeline company’s stock worth $161,110,000 after buying an additional 494,259 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Plains GP by 3.1% during the second quarter. Invesco Ltd. now owns 4,319,604 shares of the pipeline company’s stock worth $83,930,000 after buying an additional 128,994 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in shares of Plains GP by 1.2% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,585,000 shares of the pipeline company’s stock valued at $65,390,000 after buying an additional 42,000 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Plains GP by 3.4% during the second quarter. Hsbc Holdings PLC now owns 2,649,726 shares of the pipeline company’s stock valued at $51,483,000 after buying an additional 86,695 shares during the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PAGP shares. Morgan Stanley increased their price target on shares of Plains GP from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Mizuho set a $23.00 price objective on shares of Plains GP in a report on Friday, January 23rd. Raymond James Financial reduced their target price on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating for the company in a report on Friday, October 24th. Zacks Research downgraded shares of Plains GP from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Bank of America lowered shares of Plains GP from a “neutral” rating to an “underperform” rating and set a $19.00 price target on the stock. in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.14.

Plains GP Stock Down 2.3%

Shares of PAGP opened at $20.71 on Friday. The stock has a 50 day moving average price of $19.59 and a 200 day moving average price of $18.78. Plains GP Holdings, L.P. has a one year low of $16.60 and a one year high of $21.97. 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 has a market capitalization of $4.10 billion, a price-to-earnings ratio of 39.08 and a beta of 0.57.

Plains GP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be given a $0.4175 dividend. The ex-dividend date is Friday, January 30th. This represents a $1.67 dividend on an annualized basis and a yield of 8.1%. Plains GP’s payout ratio is currently 129.46%.

Plains GP Profile

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.