Stableford Capital II LLC Buys New Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Stableford Capital II LLC bought a new stake in Plains GP Holdings, L.P. (NYSE:PAGP) during the first quarter, according to its most recent filing with the SEC. The firm bought 35,158 shares of the pipeline company’s stock, valued at approximately $751,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PAGP. Tortoise Capital Advisors L.L.C. grew its stake in Plains GP by 8.0% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company’s stock valued at $229,989,000 after buying an additional 927,855 shares during the last quarter. Algert Global LLC grew its stake in Plains GP by 781.8% in the 4th quarter. Algert Global LLC now owns 772,966 shares of the pipeline company’s stock valued at $14,207,000 after buying an additional 685,307 shares during the last quarter. Clearbridge Investments LLC grew its stake in Plains GP by 11.7% in the 4th quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company’s stock valued at $113,077,000 after buying an additional 646,130 shares during the last quarter. Hsbc Holdings PLC grew its stake in Plains GP by 31.0% in the 4th quarter. Hsbc Holdings PLC now owns 2,036,816 shares of the pipeline company’s stock valued at $37,436,000 after buying an additional 482,213 shares during the last quarter. Finally, Voleon Capital Management LP acquired a new position in Plains GP in the 4th quarter valued at $7,418,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Performance

NYSE PAGP opened at $19.75 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 firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 37.26 and a beta of 0.63. The company’s fifty day moving average is $18.44 and its two-hundred day moving average is $19.65. Plains GP Holdings, L.P. has a 52-week low of $16.61 and a 52-week high of $22.31.

Plains GP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $0.38 per share. The ex-dividend date was Thursday, May 1st. This represents a $1.52 annualized dividend and a dividend yield of 7.70%. Plains GP’s dividend payout ratio (DPR) is currently 205.41%.

Analysts Set New Price Targets

PAGP has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Citigroup decreased their price target on shares of Plains GP from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Morgan Stanley raised their price target on shares of Plains GP from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 25th. Barclays decreased their price target on shares of Plains GP from $19.00 to $18.00 and set an “underweight” rating on the stock in a research report on Thursday, April 10th. Finally, Mizuho raised their price target on shares of Plains GP from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.88.

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.