Ashton Thomas Private Wealth LLC Increases Stock Holdings in Plains GP Holdings, L.P. $PAGP

Ashton Thomas Private Wealth LLC raised its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 14.5% in the second quarter, HoldingsChannel reports. The firm owned 35,427 shares of the pipeline company’s stock after buying an additional 4,483 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Plains GP were worth $688,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PAGP. Catalyst Capital Advisors LLC increased its holdings in Plains GP by 18.0% during the first quarter. Catalyst Capital Advisors LLC now owns 885,873 shares of the pipeline company’s stock valued at $18,922,000 after buying an additional 134,943 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Plains GP by 15.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 329,813 shares of the pipeline company’s stock valued at $7,045,000 after acquiring an additional 44,948 shares during the period. Cetera Investment Advisers increased its stake in shares of Plains GP by 7.4% in the 1st quarter. Cetera Investment Advisers now owns 194,723 shares of the pipeline company’s stock worth $4,159,000 after purchasing an additional 13,424 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Plains GP by 55.5% in the 1st quarter. XTX Topco Ltd now owns 52,948 shares of the pipeline company’s stock worth $1,131,000 after purchasing an additional 18,890 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Plains GP by 17.9% in the 1st quarter. BNP Paribas Financial Markets now owns 1,580,488 shares of the pipeline company’s stock worth $33,759,000 after purchasing an additional 239,723 shares during the period. Institutional investors own 88.30% of the company’s stock.

Wall Street Analyst Weigh In

PAGP has been the subject of several recent research reports. JPMorgan Chase & Co. cut their price target on Plains GP from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, September 18th. Morgan Stanley cut their price objective on Plains GP from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 26th. Wolfe Research reissued a “peer perform” rating on shares of Plains GP in a report on Friday, July 25th. Raymond James Financial lowered their price target on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a report on Friday, October 24th. Finally, Zacks Research lowered shares of Plains GP from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.13.

Plains GP Stock Up 0.3%

Shares of PAGP opened at $17.74 on Friday. The business’s 50 day moving average is $18.17 and its 200 day moving average is $18.65. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 12-month low of $16.60 and a 12-month high of $22.31. The company has a market capitalization of $3.51 billion, a PE ratio of 33.47 and a beta of 0.68.

Plains GP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.6%. The ex-dividend date of this dividend is Friday, October 31st. Plains GP’s payout ratio is 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.