Osaic Holdings Inc. Raises Position in Plains GP Holdings, L.P. $PAGP

Osaic Holdings Inc. increased its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 75.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 291,320 shares of the pipeline company’s stock after purchasing an additional 125,169 shares during the quarter. Osaic Holdings Inc.’s holdings in Plains GP were worth $5,661,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PAGP. Huntington National Bank purchased a new position in Plains GP in the 2nd quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Plains GP by 378.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,997 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 1,580 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Plains GP in the second quarter valued at $51,000. CWM LLC boosted its stake 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 period. Finally, Lazard Asset Management LLC grew its holdings in Plains GP by 36.5% during the 2nd quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock valued at $58,000 after purchasing an additional 811 shares in the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on PAGP shares. Raymond James Financial cut their price objective on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a report on Friday, October 24th. Zacks Research upgraded Plains GP from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 9th. Barclays reduced their price target on Plains GP from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, October 7th. JPMorgan Chase & Co. dropped their price objective on Plains GP from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, September 18th. Finally, Morgan Stanley increased their target price on Plains GP from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.43.

Plains GP Stock Up 0.4%

NYSE:PAGP opened at $18.77 on Tuesday. 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 company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 35.42 and a beta of 0.57. Plains GP Holdings, L.P. has a one year low of $16.60 and a one year high of $22.31. The stock has a 50-day simple moving average of $17.99 and a 200 day simple moving average of $18.63.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were given a $0.38 dividend. The ex-dividend date was Friday, October 31st. This represents a $1.52 annualized dividend and a dividend yield of 8.1%. Plains GP’s dividend payout ratio (DPR) is presently 163.44%.

Plains GP Profile

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.