Plains GP Holdings, L.P. $PAGP Stock Position Lifted by Energy Income Partners LLC

Energy Income Partners LLC increased its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 1.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 8,974,776 shares of the pipeline company’s stock after acquiring an additional 120,765 shares during the period. Plains GP comprises 3.5% of Energy Income Partners LLC’s holdings, making the stock its 6th largest position. Energy Income Partners LLC’s holdings in Plains GP were worth $217,908,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Plains GP by 8.5% during the 4th quarter. CWM LLC now owns 8,113 shares of the pipeline company’s stock valued at $155,000 after buying an additional 636 shares in the last quarter. Quantinno Capital Management LP lifted its position in Plains GP by 1.8% during the 1st quarter. Quantinno Capital Management LP now owns 40,208 shares of the pipeline company’s stock valued at $976,000 after acquiring an additional 698 shares during the period. IVC Wealth Advisors LLC lifted its position in Plains GP by 4.7% during the 1st quarter. IVC Wealth Advisors LLC now owns 16,105 shares of the pipeline company’s stock valued at $391,000 after acquiring an additional 722 shares during the period. Creative Planning boosted its stake in Plains GP by 5.1% during the third quarter. Creative Planning now owns 15,192 shares of the pipeline company’s stock worth $277,000 after acquiring an additional 742 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Plains GP by 36.5% during the second quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock worth $58,000 after acquiring an additional 811 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Stock Performance

Shares of NYSE PAGP opened at $26.09 on Tuesday. The firm’s 50-day moving average price is $24.75 and its 200-day moving average price is $23.30. 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 market cap of $5.16 billion, a PE ratio of 49.23 and a beta of 0.45. Plains GP Holdings, L.P. has a 52-week low of $16.68 and a 52-week high of $26.65.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.4175 per share. The ex-dividend date is Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a yield of 6.4%. Plains GP’s dividend payout ratio is 172.16%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PAGP shares. US Capital Advisors downgraded shares of Plains GP from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. Citigroup lifted their price objective on Plains GP from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Morgan Stanley boosted their target price on Plains GP from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. Mizuho raised their price target on Plains GP from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Finally, Wells Fargo & Company raised their price objective on shares of Plains GP from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Plains GP presently has a consensus rating of “Hold” and an average target price of $23.36.

About Plains GP

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.