Arkadios Wealth Advisors Makes New Investment in Plains GP Holdings, L.P. $PAGP

Arkadios Wealth Advisors purchased a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 75,258 shares of the pipeline company’s stock, valued at approximately $1,462,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its holdings in Plains GP by 378.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,997 shares of the pipeline company’s stock valued at $39,000 after purchasing an additional 1,580 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Plains GP in the second quarter valued at approximately $51,000. CWM LLC grew its stake in Plains GP by 394.5% in the 2nd quarter. CWM LLC now owns 2,883 shares of the pipeline company’s stock valued at $56,000 after buying an additional 2,300 shares in the last quarter. Private Trust Co. NA grew its stake in Plains GP by 100.0% in the 2nd quarter. Private Trust Co. NA now owns 5,211 shares of the pipeline company’s stock valued at $101,000 after buying an additional 2,606 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Plains GP in the 1st quarter valued at approximately $135,000. Institutional investors own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PAGP shares. Wolfe Research reaffirmed a “peer perform” rating on shares of Plains GP in a report on Friday, July 25th. Morgan Stanley dropped their price objective on Plains GP from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. Barclays decreased their price target on Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 7th. JPMorgan Chase & Co. lowered their price target on shares of Plains GP from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, September 18th. Finally, Zacks Research cut shares of Plains GP from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.13.

Plains GP Price Performance

Shares of NYSE PAGP opened at $17.27 on Friday. The firm has a market capitalization of $3.42 billion, a P/E ratio of 32.59 and a beta of 0.68. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock’s 50-day simple moving average is $18.14 and its two-hundred day simple moving average is $18.65. Plains GP Holdings, L.P. has a twelve month low of $16.60 and a twelve month high of $22.31.

Plains GP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a dividend of $0.38 per share. The ex-dividend date is Friday, October 31st. This represents a $1.52 annualized dividend and a yield of 8.8%. Plains GP’s payout ratio is presently 220.29%.

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.