Turtle Creek Wealth Advisors LLC Has $13.33 Million Stock Holdings in Plains GP Holdings, L.P. $PAGP

Turtle Creek Wealth Advisors LLC boosted its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 41.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 685,843 shares of the pipeline company’s stock after buying an additional 202,625 shares during the period. Plains GP makes up approximately 1.6% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 11th biggest holding. Turtle Creek Wealth Advisors LLC’s holdings in Plains GP were worth $13,326,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PAGP. Ameritas Advisory Services LLC acquired a new stake in Plains GP during the 2nd quarter worth approximately $51,000. CWM LLC raised its holdings in shares of Plains GP by 394.5% in the second quarter. CWM LLC now owns 2,883 shares of the pipeline company’s stock valued at $56,000 after purchasing an additional 2,300 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Plains GP by 233.1% in the first quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company’s stock valued at $128,000 after purchasing an additional 4,195 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Plains GP in the first quarter valued at approximately $135,000. Finally, GAMMA Investing LLC raised its holdings in shares of Plains GP by 2,252.7% in the first quarter. GAMMA Investing LLC now owns 8,352 shares of the pipeline company’s stock valued at $178,000 after purchasing an additional 7,997 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Zacks Research downgraded shares of Plains GP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Mizuho raised their target price on shares of Plains GP from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, June 18th. Barclays reduced their price objective 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. JPMorgan Chase & Co. reduced their price objective on shares of Plains GP from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, September 18th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Plains GP in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Plains GP presently has an average rating of “Hold” and an average price target of $20.38.

Plains GP Trading Up 1.6%

Shares of Plains GP stock opened at $17.15 on Thursday. The firm has a 50-day moving average of $18.51 and a 200-day moving average of $18.77. The stock has a market cap of $3.39 billion, a PE ratio of 32.36 and a beta of 0.68. Plains GP Holdings, L.P. has a 52-week low of $16.60 and a 52-week high of $22.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Plains GP Announces Dividend

The firm 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 $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date of this dividend is Friday, October 31st. Plains GP’s payout ratio is presently 220.29%.

Plains GP Company 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.