Plains GP Holdings, L.P. $PAGP Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 6.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 178,204 shares of the pipeline company’s stock after acquiring an additional 10,739 shares during the quarter. Maryland State Retirement & Pension System owned 0.09% of Plains GP worth $3,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of Plains GP by 3.7% in the first quarter. Blue Trust Inc. now owns 15,344 shares of the pipeline company’s stock worth $328,000 after acquiring an additional 545 shares in the last quarter. Founders Capital Management lifted its stake in shares of Plains GP by 1.2% in the second quarter. Founders Capital Management now owns 67,202 shares of the pipeline company’s stock worth $1,306,000 after acquiring an additional 797 shares in the last quarter. Dakota Wealth Management lifted its stake in shares of Plains GP by 2.0% in the second quarter. Dakota Wealth Management now owns 41,179 shares of the pipeline company’s stock worth $800,000 after acquiring an additional 820 shares in the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in shares of Plains GP by 1.3% in the first quarter. Pin Oak Investment Advisors Inc. now owns 83,779 shares of the pipeline company’s stock worth $1,758,000 after acquiring an additional 1,035 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Plains GP by 9.6% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 12,971 shares of the pipeline company’s stock worth $252,000 after acquiring an additional 1,131 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Down 2.2%

Shares of Plains GP stock opened at $17.21 on Friday. 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 business’s 50 day simple moving average is $18.69 and its 200-day simple moving average is $18.90. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 32.47 and a beta of 0.68. Plains GP Holdings, L.P. has a twelve month low of $16.60 and a twelve month high of $22.31.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date is Friday, October 31st. Plains GP’s dividend payout ratio is presently 220.29%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Mizuho boosted their price target on Plains GP from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 18th. Barclays reduced their target price on Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on Plains GP from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, September 18th. Wolfe Research reaffirmed a “peer perform” rating on shares of Plains GP in a report on Friday, July 25th. Finally, Morgan Stanley reduced their target price on Plains GP from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.38.

About Plains GP

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.