JRM Investment Counsel LLC Purchases 26,000 Shares of Plains GP Holdings, L.P. $PAGP

JRM Investment Counsel LLC increased its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 11.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 255,000 shares of the pipeline company’s stock after acquiring an additional 26,000 shares during the quarter. Plains GP comprises 1.6% of JRM Investment Counsel LLC’s investment portfolio, making the stock its 11th largest holding. JRM Investment Counsel LLC’s holdings in Plains GP were worth $6,191,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PAGP. Energy Income Partners LLC increased its stake in shares of Plains GP by 1.0% in the third quarter. Energy Income Partners LLC now owns 10,196,673 shares of the pipeline company’s stock worth $185,987,000 after purchasing an additional 102,916 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Plains GP by 1.5% during the 3rd quarter. Invesco Ltd. now owns 4,386,299 shares of the pipeline company’s stock valued at $80,006,000 after buying an additional 66,695 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of Plains GP by 3.9% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,725,000 shares of the pipeline company’s stock valued at $71,296,000 after buying an additional 140,000 shares in the last quarter. UBS Group AG boosted its holdings in Plains GP by 1.7% in the 4th quarter. UBS Group AG now owns 3,407,809 shares of the pipeline company’s stock worth $65,225,000 after buying an additional 58,003 shares during the period. Finally, Advisors Capital Management LLC grew its stake in Plains GP by 6.1% in the 4th quarter. Advisors Capital Management LLC now owns 2,829,953 shares of the pipeline company’s stock valued at $54,165,000 after buying an additional 163,094 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. US Capital Advisors cut shares of Plains GP from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Barclays raised their price target on Plains GP from $21.00 to $23.00 and gave the stock an “underweight” rating in a report on Thursday, July 16th. Mizuho boosted their price objective on Plains GP from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Wells Fargo & Company increased their price objective on Plains GP from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Finally, Morgan Stanley raised their target price on Plains GP from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.36.

Plains GP Stock Performance

Plains GP stock opened at $26.51 on Friday. Plains GP Holdings, L.P. has a 1-year low of $16.68 and a 1-year high of $26.54. 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 firm has a market capitalization of $5.25 billion, a PE ratio of 50.02 and a beta of 0.45. The firm’s 50 day simple moving average is $24.68 and its 200 day simple moving average is $23.20.

Plains GP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.67 annualized dividend and a dividend yield of 6.3%. Plains GP’s dividend payout ratio is presently 172.16%.

Plains GP Company Profile

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.