PFG Investments LLC Raises Holdings in Plains GP Holdings, L.P. $PAGP

PFG Investments LLC increased its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 13.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 42,850 shares of the pipeline company’s stock after acquiring an additional 5,213 shares during the quarter. PFG Investments LLC’s holdings in Plains GP were worth $833,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PAGP. Invesco Ltd. boosted its position in Plains GP by 42.9% during the first quarter. Invesco Ltd. now owns 4,190,610 shares of the pipeline company’s stock worth $89,511,000 after purchasing an additional 1,258,315 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Plains GP by 25.8% during the 1st quarter. Hsbc Holdings PLC now owns 2,563,031 shares of the pipeline company’s stock valued at $54,746,000 after buying an additional 526,215 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Plains GP in the 1st quarter worth approximately $10,322,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Plains GP by 17.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,559,937 shares of the pipeline company’s stock valued at $54,680,000 after buying an additional 389,096 shares in the last quarter. Finally, Gilman Hill Asset Management LLC bought a new stake in Plains GP during the 1st quarter valued at $6,044,000. 88.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Morgan Stanley cut their price target on Plains GP from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. JPMorgan Chase & Co. cut their target price on Plains GP from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, September 18th. Zacks Research cut Plains GP from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Mizuho increased their price target on shares of Plains GP from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, June 18th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Plains GP in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Plains GP presently has a consensus rating of “Hold” and an average price target of $20.50.

Plains GP Trading Down 0.5%

Shares of PAGP opened at $18.21 on Friday. Plains GP Holdings, L.P. has a 1-year low of $16.60 and a 1-year high of $22.31. The company has a market capitalization of $3.60 billion, a P/E ratio of 34.36 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The firm’s 50 day simple moving average is $18.89 and its 200 day simple moving average is $19.03.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.3%. Plains GP’s dividend payout ratio is currently 220.29%.

About Plains GP

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.