Artemis Investment Management LLP Purchases 955,231 Shares of Plains GP Holdings, L.P. $PAGP

Artemis Investment Management LLP boosted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 18.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,231,288 shares of the pipeline company’s stock after acquiring an additional 955,231 shares during the quarter. Plains GP comprises about 1.3% of Artemis Investment Management LLP’s investment portfolio, making the stock its 20th biggest holding. Artemis Investment Management LLP’s holdings in Plains GP were worth $161,390,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Diesslin Group Inc. raised its holdings in shares of Plains GP by 0.8% in the 2nd quarter. Diesslin Group Inc. now owns 82,841 shares of the pipeline company’s stock worth $2,011,000 after buying an additional 664 shares in the last quarter. McIlrath & Eck LLC boosted its stake in Plains GP by 5.9% in the 1st quarter. McIlrath & Eck LLC now owns 12,133 shares of the pipeline company’s stock valued at $295,000 after buying an additional 677 shares in the last quarter. Quantinno Capital Management LP grew its position in Plains GP by 1.8% in the first quarter. Quantinno Capital Management LP now owns 40,208 shares of the pipeline company’s stock valued at $976,000 after acquiring an additional 698 shares during the period. IVC Wealth Advisors LLC grew its position in Plains GP by 4.7% in the first quarter. IVC Wealth Advisors LLC now owns 16,105 shares of the pipeline company’s stock valued at $391,000 after acquiring an additional 722 shares during the period. Finally, NewEdge Advisors LLC raised its stake in Plains GP by 0.8% during the first quarter. NewEdge Advisors LLC now owns 107,504 shares of the pipeline company’s stock worth $2,610,000 after acquiring an additional 884 shares in the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

Plains GP Price Performance

Shares of Plains GP stock traded up $0.40 during trading on Thursday, reaching $26.61. The company’s stock had a trading volume of 573,993 shares, compared to its average volume of 1,774,037. The stock has a 50-day moving average price of $26.79 and a two-hundred day moving average price of $25.20. 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 one year low of $16.68 and a one year high of $28.70. The stock has a market capitalization of $5.27 billion, a P/E ratio of 50.14 and a beta of 0.54.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 6.3%. The ex-dividend date is Friday, October 30th. Plains GP’s dividend payout ratio (DPR) is presently 59.86%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PAGP shares. Zacks Research raised Plains GP from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Citigroup increased their target price on shares of Plains GP from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, September 17th. Truist Financial lifted their price target on shares of Plains GP from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Morgan Stanley boosted their price target on shares of Plains GP from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Plains GP from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.91.

Plains GP Company Profile

Plains GP Holdings, L.P. is a publicly traded holding company that owns interests in Plains All American Pipeline, L.P. Its business exposure is primarily derived from Plains All American, which operates energy infrastructure used to transport, store, gather and handle crude oil and natural gas liquids.

Through its ownership interests in Plains All American and its general partner structure, Plains GP Holdings provides investors with an indirect interest in the operations of one of North America’s major midstream energy companies.