Plains GP Holdings, L.P. $PAGP Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 358.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,300 shares of the pipeline company’s stock after purchasing an additional 9,616 shares during the period. Farther Finance Advisors LLC’s holdings in Plains GP were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Energy Income Partners LLC raised its position in Plains GP by 2.0% in the 1st quarter. Energy Income Partners LLC now owns 10,177,085 shares of the pipeline company’s stock valued at $217,383,000 after purchasing an additional 203,638 shares in the last quarter. Chickasaw Capital Management LLC raised its position in Plains GP by 2.0% in the 2nd quarter. Chickasaw Capital Management LLC now owns 8,338,521 shares of the pipeline company’s stock valued at $162,017,000 after purchasing an additional 167,061 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Plains GP by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,220,898 shares of the pipeline company’s stock valued at $111,518,000 after purchasing an additional 29,911 shares in the last quarter. Invesco Ltd. raised its position in Plains GP by 42.9% in the 1st quarter. Invesco Ltd. now owns 4,190,610 shares of the pipeline company’s stock valued at $89,511,000 after purchasing an additional 1,258,315 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in Plains GP by 2.0% in the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,033,000 shares of the pipeline company’s stock valued at $86,145,000 after purchasing an additional 80,000 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PAGP. Mizuho raised their target price on Plains GP from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 18th. Zacks Research lowered Plains GP from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Wolfe Research reissued a “peer perform” rating on shares of Plains GP in a research report on Friday, July 25th. JPMorgan Chase & Co. cut their target price on 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, Morgan Stanley cut their target price on Plains GP from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Plains GP currently has a consensus rating of “Hold” and a consensus price target of $20.50.

Plains GP Trading Down 0.8%

Shares of PAGP stock opened at $18.24 on Wednesday. The business’s 50 day moving average is $18.96 and its two-hundred day moving average is $19.05. Plains GP Holdings, L.P. has a twelve month low of $16.60 and a twelve month high of $22.31. The company has a market capitalization of $3.61 billion, a P/E ratio of 34.42 and a beta of 0.76. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.3%. The ex-dividend date was Thursday, July 31st. Plains GP’s dividend payout ratio (DPR) is 220.29%.

Plains GP 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.