Catalyst Capital Advisors LLC Purchases 23,640 Shares of Plains GP Holdings, L.P. $PAGP

Catalyst Capital Advisors LLC boosted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 3.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 717,163 shares of the pipeline company’s stock after buying an additional 23,640 shares during the period. Catalyst Capital Advisors LLC owned approximately 0.36% of Plains GP worth $17,413,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Meritage Portfolio Management boosted its holdings in shares of Plains GP by 36.5% in the 4th quarter. Meritage Portfolio Management now owns 314,420 shares of the pipeline company’s stock worth $6,018,000 after purchasing an additional 84,042 shares during the period. CWA Asset Management Group LLC lifted its position in Plains GP by 19.3% in the fourth quarter. CWA Asset Management Group LLC now owns 156,306 shares of the pipeline company’s stock worth $2,992,000 after buying an additional 25,321 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in Plains GP by 14.4% during the fourth quarter. Evergreen Capital Management LLC now owns 835,817 shares of the pipeline company’s stock worth $15,998,000 after buying an additional 105,448 shares during the period. HF Advisory Group LLC boosted its stake in Plains GP by 37.9% during the fourth quarter. HF Advisory Group LLC now owns 266,276 shares of the pipeline company’s stock worth $5,097,000 after buying an additional 73,248 shares during the period. Finally, Miller Howard Investments Inc. NY increased its position in Plains GP by 25.8% during the first quarter. Miller Howard Investments Inc. NY now owns 1,421,518 shares of the pipeline company’s stock valued at $34,514,000 after acquiring an additional 291,397 shares during the last quarter. Institutional investors own 88.30% of the company’s stock.

Plains GP Stock Performance

Shares of Plains GP stock opened at $25.61 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock’s fifty day moving average price is $24.48 and its 200-day moving average price is $22.98. The firm has a market cap of $5.07 billion, a P/E ratio of 48.32 and a beta of 0.45. Plains GP Holdings, L.P. has a 12 month low of $16.68 and a 12 month high of $26.15.

Plains GP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.4175 per share. The ex-dividend date is Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.5%. Plains GP’s dividend payout ratio (DPR) is currently 172.16%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. US Capital Advisors cut shares of Plains GP from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. Mizuho increased their price objective on shares of Plains GP from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Citigroup raised their price objective on shares of Plains GP from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Zacks Research lowered Plains GP from a “hold” rating to a “strong sell” rating in a research report on Monday, June 22nd. Finally, Truist Financial upped their target price on Plains GP from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Plains GP has a consensus rating of “Hold” and an average price target of $23.36.

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.