Plains GP Holdings, L.P. $PAGP Shares Purchased by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC increased its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 42.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,289 shares of the pipeline company’s stock after acquiring an additional 4,281 shares during the period. IVC Wealth Advisors LLC’s holdings in Plains GP were worth $278,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC lifted its stake in Plains GP by 18.0% during the 1st quarter. Catalyst Capital Advisors LLC now owns 885,873 shares of the pipeline company’s stock worth $18,922,000 after acquiring an additional 134,943 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Plains GP by 15.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 329,813 shares of the pipeline company’s stock worth $7,045,000 after acquiring an additional 44,948 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Plains GP by 7.4% in the first quarter. Cetera Investment Advisers now owns 194,723 shares of the pipeline company’s stock valued at $4,159,000 after acquiring an additional 13,424 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Plains GP by 434.4% in the first quarter. Janney Montgomery Scott LLC now owns 196,584 shares of the pipeline company’s stock valued at $4,199,000 after acquiring an additional 159,795 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Plains GP by 70.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 110,504 shares of the pipeline company’s stock valued at $2,360,000 after acquiring an additional 45,577 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Down 0.8%

Plains GP stock opened at $18.07 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 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 cap of $3.57 billion, a PE ratio of 34.09 and a beta of 0.68. The stock’s fifty day moving average is $18.85 and its two-hundred day moving average is $18.99.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $0.38 dividend. The ex-dividend date is Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 8.4%. Plains GP’s dividend payout ratio (DPR) is currently 220.29%.

Analyst Ratings Changes

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

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.