Plains GP Holdings, L.P. (NYSE:PAGP) Shares Bought by XTX Topco Ltd

XTX Topco Ltd grew its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 55.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,948 shares of the pipeline company’s stock after purchasing an additional 18,890 shares during the quarter. XTX Topco Ltd’s holdings in Plains GP were worth $1,131,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Golden State Wealth Management LLC raised its position in shares of Plains GP by 233.1% in the first quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company’s stock valued at $128,000 after buying an additional 4,195 shares during the last quarter. McIlrath & Eck LLC purchased a new stake in Plains GP in the 4th quarter worth approximately $166,000. GAMMA Investing LLC raised its holdings in Plains GP by 2,252.7% in the 1st quarter. GAMMA Investing LLC now owns 8,352 shares of the pipeline company’s stock valued at $178,000 after acquiring an additional 7,997 shares during the last quarter. Insigneo Advisory Services LLC lifted its stake in shares of Plains GP by 11.3% during the 4th quarter. Insigneo Advisory Services LLC now owns 11,283 shares of the pipeline company’s stock worth $207,000 after purchasing an additional 1,146 shares during the period. Finally, IVC Wealth Advisors LLC purchased a new position in shares of Plains GP during the 1st quarter worth $214,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Stock Down 1.8%

Shares of Plains GP stock opened at $19.24 on Friday. Plains GP Holdings, L.P. has a twelve month low of $16.60 and a twelve month high of $22.31. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 36.30 and a beta of 0.65. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average price of $19.18 and a 200 day moving average price of $19.78.

Plains GP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.9%. Plains GP’s dividend payout ratio (DPR) is currently 205.41%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PAGP shares. Mizuho upped their target price on Plains GP from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, June 18th. Wolfe Research reaffirmed a “peer perform” rating on shares of Plains GP in a research note on Friday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Plains GP from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 18th. Wall Street Zen upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Finally, Citigroup dropped their price target on shares of Plains GP from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.88.

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.