Stephens Inc. AR Boosts Stake in Plains GP Holdings, L.P. $PAGP

Stephens Inc. AR raised its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 223,570 shares of the pipeline company’s stock after purchasing an additional 739 shares during the quarter. Stephens Inc. AR owned 0.11% of Plains GP worth $4,344,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PAGP. Ameritas Advisory Services LLC bought a new position in Plains GP in the 2nd quarter worth about $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 worth $56,000 after acquiring 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 worth $101,000 after acquiring an additional 2,606 shares in the last quarter. Golden State Wealth Management LLC grew its stake in Plains GP by 233.1% in the 1st quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company’s stock worth $128,000 after acquiring an additional 4,195 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Plains GP in the 1st quarter worth about $135,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on PAGP. JPMorgan Chase & Co. dropped their target price on shares of Plains GP from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 18th. Morgan Stanley dropped their target price on shares of 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. Barclays dropped their price objective on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 7th. Wolfe Research reiterated a “peer perform” rating on shares of Plains GP in a research note on Friday, July 25th. Finally, Zacks Research downgraded shares of Plains GP from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. One equities 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.38.

Plains GP Price Performance

Shares of PAGP opened at $17.38 on Wednesday. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 32.79 and a beta of 0.68. Plains GP Holdings, L.P. has a twelve month low of $16.60 and a twelve month high of $22.31. 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 company has a 50 day moving average of $18.35 and a two-hundred day moving average of $18.66.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.7%. Plains GP’s dividend payout ratio (DPR) is currently 220.29%.

Plains GP 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.