SG Americas Securities LLC Purchases 44,322 Shares of Plains GP Holdings, L.P. $PAGP

SG Americas Securities LLC raised its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 191.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,426 shares of the pipeline company’s stock after acquiring an additional 44,322 shares during the quarter. SG Americas Securities LLC’s holdings in Plains GP were worth $1,637,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC acquired a new position in Plains GP during the third quarter worth $46,000. Lazard Asset Management LLC increased its stake in Plains GP by 36.5% in the 2nd quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock valued at $58,000 after buying an additional 811 shares during the last quarter. Virtus Advisers LLC increased its stake in Plains GP by 46.5% in the 4th quarter. Virtus Advisers LLC now owns 5,859 shares of the pipeline company’s stock valued at $112,000 after buying an additional 1,859 shares during the last quarter. Arax Advisory Partners lifted its position in Plains GP by 31.4% during the 4th quarter. Arax Advisory Partners now owns 7,141 shares of the pipeline company’s stock worth $137,000 after buying an additional 1,707 shares in the last quarter. Finally, CWM LLC lifted its position in Plains GP by 8.5% during the 4th quarter. CWM LLC now owns 8,113 shares of the pipeline company’s stock worth $155,000 after buying an additional 636 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Performance

Shares of PAGP opened at $24.43 on Friday. The company has a market cap of $4.83 billion, a PE ratio of 46.10 and a beta of 0.46. The firm has a 50-day moving average of $24.19 and a 200-day moving average of $22.54. Plains GP Holdings, L.P. has a one year low of $16.68 and a one year high of $26.15. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a dividend of $0.4175 per share. The ex-dividend date was Friday, May 1st. This represents a $1.67 dividend on an annualized basis and a yield of 6.8%. Plains GP’s dividend payout ratio (DPR) is presently 172.16%.

Wall Street Analysts Forecast Growth

PAGP has been the subject of several analyst reports. Citigroup raised their price objective on Plains GP from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. The Goldman Sachs Group upgraded Plains GP from a “sell” rating to a “neutral” rating and upped their target price for the stock from $18.00 to $24.00 in a report on Wednesday, June 3rd. US Capital Advisors cut Plains GP from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Stifel Nicolaus raised their price target on Plains GP from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Finally, Truist Financial started coverage on Plains GP in a research report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Plains GP presently has a consensus rating of “Hold” and an average target price of $23.00.

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.