XTX Topco Ltd Purchases 95,583 Shares of Plains GP Holdings, L.P. $PAGP

XTX Topco Ltd boosted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 180.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,531 shares of the pipeline company’s stock after buying an additional 95,583 shares during the period. XTX Topco Ltd owned approximately 0.08% of Plains GP worth $2,886,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Huntington National Bank bought a new stake in shares of Plains GP during the 2nd quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd lifted its stake in Plains GP by 378.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,997 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 1,580 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Plains GP in the 2nd quarter valued at $51,000. CWM LLC increased its stake in shares of Plains GP by 394.5% in the 2nd quarter. CWM LLC now owns 2,883 shares of the pipeline company’s stock valued at $56,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Plains GP by 43.2% during the 2nd quarter. Allworth Financial LP now owns 3,484 shares of the pipeline company’s stock worth $68,000 after buying an additional 1,051 shares in the last quarter. 88.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PAGP shares. Barclays reduced their price objective on Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 7th. Zacks Research upgraded shares of Plains GP from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Morgan Stanley upped their price objective on shares of Plains GP from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. cut 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 report on Thursday, September 18th. Finally, Raymond James Financial decreased their target price on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.38.

Plains GP Trading Up 1.5%

Shares of NYSE PAGP opened at $18.46 on Wednesday. The firm has a 50 day moving average price of $17.76 and a two-hundred day moving average price of $18.55. The stock has a market cap of $3.65 billion, a P/E ratio of 34.83 and a beta of 0.70. Plains GP Holdings, L.P. has a 52-week low of $16.60 and a 52-week high of $22.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Plains GP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.2%. The ex-dividend date of this dividend was Friday, October 31st. Plains GP’s dividend payout ratio (DPR) is currently 163.44%.

Plains GP Company 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.