Plains GP Holdings, L.P. $PAGP Stock Holdings Reduced by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC lowered its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 12.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 710,338 shares of the pipeline company’s stock after selling 100,000 shares during the period. Plains GP makes up 0.9% of Turtle Creek Wealth Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. Turtle Creek Wealth Advisors LLC’s holdings in Plains GP were worth $18,398,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PAGP. First Bancorp Inc ME bought a new stake in shares of Plains GP during the second quarter valued at approximately $30,000. North Star Investment Management Corp. bought a new stake in shares of Plains GP during the first quarter worth about $56,000. Continuum Advisory LLC bought a new stake in Plains GP during the 2nd quarter worth approximately $61,000. Ameritas Advisory Services LLC bought a new position in shares of Plains GP in the second quarter valued at approximately $64,000. Finally, O Domhnaill Enterprises Inc. purchased a new position in shares of Plains GP during the first quarter valued at approximately $66,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PAGP shares. Truist Financial lifted their price objective on shares of Plains GP from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Morgan Stanley lifted their target price on shares of Plains GP from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Mizuho boosted their target price on Plains GP from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, September 21st. Barclays lifted their price target on Plains GP from $23.00 to $24.00 and gave the stock an “underweight” rating in a report on Monday, September 21st. Finally, Zacks Research raised shares of Plains GP from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Plains GP presently has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Plains GP Stock Performance

Shares of NYSE PAGP traded up $0.15 during trading on Thursday, reaching $27.26. 941,550 shares of the stock traded hands, compared to its average volume of 1,775,280. Plains GP Holdings, L.P. has a 52-week low of $16.82 and a 52-week high of $28.70. The company has a 50-day moving average of $26.88 and a 200-day moving average of $25.30. The stock has a market capitalization of $5.40 billion, a P/E ratio of 51.46 and a beta of 0.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Plains GP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.67 annualized dividend and a yield of 6.1%. Plains GP’s dividend payout ratio (DPR) is 59.86%.

About Plains GP

Plains GP Holdings, L.P. is a publicly traded holding company that owns interests in Plains All American Pipeline, L.P. Its business exposure is primarily derived from Plains All American, which operates energy infrastructure used to transport, store, gather and handle crude oil and natural gas liquids.

Through its ownership interests in Plains All American and its general partner structure, Plains GP Holdings provides investors with an indirect interest in the operations of one of North America’s major midstream energy companies.