Stephens Inc. AR Purchases 22,496 Shares of Plains GP Holdings, L.P. $PAGP

Stephens Inc. AR raised its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 9.6% in the first quarter, Holdings Channel reports. The institutional investor owned 257,905 shares of the pipeline company’s stock after acquiring an additional 22,496 shares during the period. Stephens Inc. AR’s holdings in Plains GP were worth $6,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. North Star Investment Management Corp. bought a new position in Plains GP in the 1st quarter worth $56,000. Larson Financial Group LLC bought a new stake in Plains GP during the third quarter valued at about $46,000. Lazard Asset Management LLC increased its position in Plains GP by 36.5% in the second quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock worth $58,000 after buying an additional 811 shares in the last quarter. Virtus Advisers LLC raised its stake in shares of Plains GP by 46.5% in the fourth quarter. Virtus Advisers LLC now owns 5,859 shares of the pipeline company’s stock worth $112,000 after buying an additional 1,859 shares during the period. Finally, Arax Advisory Partners raised its stake in shares of Plains GP by 31.4% in the fourth 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 during the period. 88.30% of the stock is currently owned by institutional investors.

Plains GP Stock Up 2.0%

Shares of PAGP opened at $24.65 on Wednesday. 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 stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 46.51 and a beta of 0.45. Plains GP Holdings, L.P. has a 1 year low of $16.68 and a 1 year high of $26.15. The business’s 50 day simple moving average is $24.27 and its 200-day simple moving average is $22.65.

Plains GP Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.4175 per share. The ex-dividend date of this dividend is Friday, July 31st. Plains GP’s payout ratio is presently 172.16%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Truist Financial assumed coverage on shares of Plains GP in a report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 target price for the company. The Goldman Sachs Group raised shares of Plains GP from a “sell” rating to a “neutral” rating and lifted their price target for the company from $18.00 to $24.00 in a report on Wednesday, June 3rd. Wells Fargo & Company upped their price target on shares of Plains GP from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. 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 note on Monday, June 8th. Finally, US Capital Advisors downgraded shares of Plains GP from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.