Chicago Partners Investment Group LLC Purchases 3,435 Shares of Plains GP Holdings, L.P. $PAGP

Chicago Partners Investment Group LLC raised its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,121 shares of the pipeline company’s stock after buying an additional 3,435 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Plains GP were worth $3,436,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PAGP. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Plains GP during the 2nd quarter worth about $2,100,000. Arista Wealth Management LLC bought a new position in Plains GP during the second quarter worth about $341,000. Private Trust Co. NA boosted its holdings in Plains GP by 100.0% during the second quarter. Private Trust Co. NA now owns 5,211 shares of the pipeline company’s stock valued at $101,000 after purchasing an additional 2,606 shares in the last quarter. Oxbow Advisors LLC boosted its holdings in Plains GP by 1.0% during the second quarter. Oxbow Advisors LLC now owns 329,794 shares of the pipeline company’s stock valued at $6,408,000 after purchasing an additional 3,205 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC grew its stake in shares of Plains GP by 41.9% in the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 685,843 shares of the pipeline company’s stock valued at $13,326,000 after purchasing an additional 202,625 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on PAGP shares. Zacks Research downgraded Plains GP from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Morgan Stanley cut their price objective on Plains GP from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. JPMorgan Chase & Co. lowered their target price on shares of Plains GP from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, September 18th. Barclays dropped their target price on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, October 7th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Plains GP in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Plains GP has a consensus rating of “Hold” and an average target price of $20.38.

Plains GP Price Performance

PAGP opened at $16.89 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The stock has a market capitalization of $3.34 billion, a P/E ratio of 31.87 and a beta of 0.68. The company’s 50 day simple moving average is $18.41 and its 200-day simple moving average is $18.68. Plains GP Holdings, L.P. has a one year low of $16.60 and a one year high of $22.31.

Plains GP Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.0%. Plains GP’s payout ratio is presently 220.29%.

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.