Alps Advisors Inc. Buys 29,411 Shares of Plains GP Holdings, L.P. $PAGP

Alps Advisors Inc. raised its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,204,792 shares of the pipeline company’s stock after purchasing an additional 29,411 shares during the quarter. Alps Advisors Inc. owned 0.61% of Plains GP worth $21,975,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PAGP. Massachusetts Financial Services Co. MA grew its position in shares of Plains GP by 2.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,117,959 shares of the pipeline company’s stock valued at $196,592,000 after acquiring an additional 247,365 shares during the period. Chickasaw Capital Management LLC raised its holdings in Plains GP by 5.9% in the 3rd quarter. Chickasaw Capital Management LLC now owns 8,832,780 shares of the pipeline company’s stock worth $161,110,000 after purchasing an additional 494,259 shares during the period. Invesco Ltd. lifted its position in Plains GP by 3.1% during the second quarter. Invesco Ltd. now owns 4,319,604 shares of the pipeline company’s stock valued at $83,930,000 after purchasing an additional 128,994 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Plains GP by 1.2% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,585,000 shares of the pipeline company’s stock valued at $65,390,000 after purchasing an additional 42,000 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Plains GP by 3.4% during the second quarter. Hsbc Holdings PLC now owns 2,649,726 shares of the pipeline company’s stock valued at $51,483,000 after purchasing an additional 86,695 shares during the period. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Analyst Ratings Changes

PAGP has been the topic of several analyst reports. Zacks Research downgraded shares of Plains GP from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Morgan Stanley raised their price objective on shares of Plains GP from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Bank of America cut shares of Plains GP from a “neutral” rating to an “underperform” rating and set a $19.00 target price on the stock. in a research note on Wednesday, January 28th. Mizuho set a $23.00 price target on Plains GP in a research note on Friday, January 23rd. Finally, Raymond James Financial decreased their price target on Plains GP from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Plains GP has an average rating of “Hold” and an average target price of $20.14.

Plains GP Stock Performance

NYSE PAGP opened at $20.71 on Friday. The business’s 50 day moving average price is $19.59 and its 200-day moving average price is $18.78. Plains GP Holdings, L.P. has a fifty-two week low of $16.60 and a fifty-two week high of $21.97. The company has a market cap of $4.10 billion, a P/E ratio of 39.08 and a beta of 0.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 8.1%. The ex-dividend date is Friday, January 30th. Plains GP’s dividend payout ratio is currently 129.46%.

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.