Stephens Inc. AR Boosts Stake in Plains GP Holdings, L.P. $PAGP

Stephens Inc. AR grew its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 0.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 223,570 shares of the pipeline company’s stock after buying an additional 739 shares during the period. Stephens Inc. AR’s holdings in Plains GP were worth $4,344,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new position in shares of Plains GP in the second quarter worth $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 worth $56,000 after buying an additional 2,300 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Plains GP by 100.0% during the second quarter. Private Trust Co. NA now owns 5,211 shares of the pipeline company’s stock worth $101,000 after purchasing an additional 2,606 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Plains GP by 233.1% during the first quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company’s stock worth $128,000 after purchasing an additional 4,195 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Plains GP during the first quarter worth $135,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Analysts Set New Price Targets

PAGP has been the subject of several recent research reports. Zacks Research cut shares of Plains GP from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Wolfe Research reissued a “peer perform” rating on shares of Plains GP in a report on Friday, July 25th. JPMorgan Chase & Co. reduced their target price 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. Barclays reduced their target price on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, October 7th. Finally, Morgan Stanley reduced their target price 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. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Plains GP currently has a consensus rating of “Hold” and an average target price of $20.38.

Plains GP Stock Up 1.7%

PAGP stock opened at $17.38 on Wednesday. The firm has a market cap of $3.44 billion, a PE ratio of 32.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The firm’s fifty day moving average is $18.35 and its 200 day moving average is $18.66. Plains GP Holdings, L.P. has a one year low of $16.60 and a one year high of $22.31.

Plains GP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.7%. The ex-dividend date is Friday, October 31st. Plains GP’s dividend payout ratio (DPR) is currently 220.29%.

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.