Jefferies Financial Group Inc. Takes Position in Plains GP Holdings, L.P. $PAGP

Jefferies Financial Group Inc. bought a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 257,578 shares of the pipeline company’s stock, valued at approximately $6,251,000. Jefferies Financial Group Inc. owned about 0.13% of Plains GP as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Bank of America Corp DE raised its holdings in Plains GP by 3.0% in the second quarter. Bank of America Corp DE now owns 3,865,600 shares of the pipeline company’s stock valued at $93,818,000 after buying an additional 112,893 shares during the period. Bluefin Capital Management LLC acquired a new position in Plains GP during the 2nd quarter worth approximately $252,000. First Bancorp Inc ME purchased a new position in shares of Plains GP in the second quarter valued at $30,000. Pinnacle Holdings LLC acquired a new stake in Plains GP during the 2nd quarter valued at $3,927,000. Finally, Diesslin Group Inc. grew its stake in shares of Plains GP by 0.8% during the second quarter. Diesslin Group Inc. now owns 82,841 shares of the pipeline company’s stock valued at $2,011,000 after acquiring an additional 664 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PAGP shares. Morgan Stanley boosted their target price on shares of Plains GP from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Barclays boosted their price objective on Plains GP from $21.00 to $23.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Mizuho upped their target price on shares of Plains GP from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. 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. Finally, The Goldman Sachs Group raised shares of Plains GP from a “sell” rating to a “neutral” rating and upped their price target for the company from $18.00 to $24.00 in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.55.

Plains GP Price Performance

PAGP opened at $27.97 on Friday. Plains GP Holdings, L.P. has a 1 year low of $16.68 and a 1 year high of $28.28. The stock has a fifty day moving average price of $25.52 and a 200 day moving average price of $24.26. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 52.77 and a beta of 0.46.

Plains GP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Friday, July 31st. Plains GP’s dividend payout ratio (DPR) is presently 59.86%.

About Plains GP

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.