Pathstone Holdings LLC Acquires 860 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Pathstone Holdings LLC boosted its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 0.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 625,344 shares of the pipeline company’s stock after acquiring an additional 860 shares during the quarter. Pathstone Holdings LLC owned approximately 0.32% of Plains GP worth $11,494,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. McGowan Group Asset Management Inc. lifted its holdings in shares of Plains GP by 0.8% during the fourth quarter. McGowan Group Asset Management Inc. now owns 1,130,891 shares of the pipeline company’s stock valued at $20,786,000 after acquiring an additional 8,726 shares during the period. Eagle Global Advisors LLC lifted its stake in Plains GP by 27.9% in the fourth quarter. Eagle Global Advisors LLC now owns 1,183,317 shares of the pipeline company’s stock valued at $21,749,000 after buying an additional 257,837 shares during the period. Cresset Asset Management LLC lifted its stake in Plains GP by 62.7% in the fourth quarter. Cresset Asset Management LLC now owns 116,858 shares of the pipeline company’s stock valued at $2,148,000 after buying an additional 45,034 shares during the period. Cetera Investment Advisers raised its position in shares of Plains GP by 1.4% during the fourth quarter. Cetera Investment Advisers now owns 181,299 shares of the pipeline company’s stock worth $3,332,000 after purchasing an additional 2,549 shares during the period. Finally, BROOKFIELD Corp ON raised its position in shares of Plains GP by 2.7% during the fourth quarter. BROOKFIELD Corp ON now owns 68,244 shares of the pipeline company’s stock worth $1,254,000 after purchasing an additional 1,770 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Performance

NYSE:PAGP opened at $18.44 on Friday. 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 business has a fifty day simple moving average of $19.41 and a two-hundred day simple moving average of $19.67. Plains GP Holdings, L.P. has a 1 year low of $16.61 and a 1 year high of $22.31. The company has a market capitalization of $3.65 billion, a P/E ratio of 34.79 and a beta of 0.68.

Plains GP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.24%. The ex-dividend date of this dividend was Thursday, May 1st. Plains GP’s dividend payout ratio is 205.41%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PAGP. Morgan Stanley raised their price target on Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 25th. StockNews.com downgraded shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. Raymond James lifted their price objective on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Citigroup dropped their price objective on Plains GP from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Barclays lowered their price target on shares of Plains GP from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.83.

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.