Kestra Advisory Services LLC Boosts Holdings in Plains GP Holdings, L.P. $PAGP

Kestra Advisory Services LLC boosted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 26.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,753 shares of the pipeline company’s stock after buying an additional 27,636 shares during the period. Kestra Advisory Services LLC owned 0.07% of Plains GP worth $3,223,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PAGP. Energy Income Partners LLC raised its holdings in Plains GP by 1.0% during the third quarter. Energy Income Partners LLC now owns 10,196,673 shares of the pipeline company’s stock worth $185,987,000 after purchasing an additional 102,916 shares in the last quarter. Invesco Ltd. increased its stake in Plains GP by 1.5% in the 3rd quarter. Invesco Ltd. now owns 4,386,299 shares of the pipeline company’s stock valued at $80,006,000 after purchasing an additional 66,695 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of Plains GP by 3.9% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,725,000 shares of the pipeline company’s stock worth $71,296,000 after buying an additional 140,000 shares during the last quarter. UBS Group AG raised its position in Plains GP by 1.7% during the fourth quarter. UBS Group AG now owns 3,407,809 shares of the pipeline company’s stock worth $65,225,000 after acquiring an additional 58,003 shares during the last quarter. Finally, Advisors Capital Management LLC raised its position in shares of Plains GP by 6.1% during the 4th quarter. Advisors Capital Management LLC now owns 2,829,953 shares of the pipeline company’s stock worth $54,165,000 after purchasing an additional 163,094 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Performance

Shares of NYSE PAGP opened at $25.61 on Friday. Plains GP Holdings, L.P. has a 52-week low of $16.68 and a 52-week high of $26.15. The stock’s fifty day simple moving average is $24.48 and its 200 day simple moving average is $22.98. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 48.32 and a beta of 0.45.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.4175 per share. The ex-dividend date is Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.5%. Plains GP’s dividend payout ratio (DPR) is currently 172.16%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PAGP. Truist Financial upped their price objective on shares of Plains GP from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup lifted their price objective on Plains GP from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Barclays lifted their target price on shares of Plains GP from $21.00 to $23.00 and gave the company an “underweight” rating in a report on Thursday. Wells Fargo & Company upped their price target on Plains GP from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Finally, US Capital Advisors cut shares of Plains GP from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $23.36.

Plains GP Profile

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.