Arista Wealth Management LLC Makes New $341,000 Investment in Plains GP Holdings, L.P. $PAGP

Arista Wealth Management LLC purchased a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,562 shares of the pipeline company’s stock, valued at approximately $341,000.

Several other large investors have also recently made changes to their positions in PAGP. Invesco Ltd. raised its stake in shares of Plains GP by 42.9% during the first quarter. Invesco Ltd. now owns 4,190,610 shares of the pipeline company’s stock worth $89,511,000 after acquiring an additional 1,258,315 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Plains GP by 25.8% during the first quarter. Hsbc Holdings PLC now owns 2,563,031 shares of the pipeline company’s stock worth $54,746,000 after acquiring an additional 526,215 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Plains GP during the first quarter worth approximately $10,322,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Plains GP by 17.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,559,937 shares of the pipeline company’s stock worth $54,680,000 after acquiring an additional 389,096 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Plains GP by 17.9% during the first quarter. BNP Paribas Financial Markets now owns 1,580,488 shares of the pipeline company’s stock worth $33,759,000 after acquiring an additional 239,723 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Trading Down 0.3%

NYSE:PAGP opened at $16.89 on Friday. 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 company has a fifty day moving average of $18.41 and a 200 day moving average of $18.71. The firm has a market capitalization of $3.34 billion, a P/E ratio of 31.87 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.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 9.0%. The ex-dividend date of this dividend is Friday, October 31st. Plains GP’s payout ratio is presently 220.29%.

Analyst Ratings Changes

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

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.