Plains GP Holdings, L.P. $PAGP Shares Acquired by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC boosted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 16.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 800,863 shares of the pipeline company’s stock after buying an additional 115,020 shares during the quarter. Plains GP accounts for about 1.3% of Turtle Creek Wealth Advisors LLC’s investment portfolio, making the stock its 15th largest position. Turtle Creek Wealth Advisors LLC’s holdings in Plains GP were worth $14,608,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Huntington National Bank bought a new stake in shares of Plains GP during the 2nd quarter worth $31,000. Caitong International Asset Management Co. Ltd lifted its holdings 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 valued at $39,000 after purchasing an additional 1,580 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Plains GP in the 2nd quarter valued at $51,000. CWM LLC boosted its position in shares of Plains GP by 394.5% in the 2nd 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 increased its stake in Plains GP by 36.5% in the 2nd quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock worth $58,000 after purchasing an additional 811 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

Plains GP Price Performance

NYSE PAGP opened at $20.55 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 38.77 and a beta of 0.56. The company has a 50 day simple moving average of $18.85 and a 200-day simple moving average of $18.68. 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 announced a dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be given a $0.4175 dividend. The ex-dividend date is Friday, January 30th. Plains GP’s dividend payout ratio is presently 179.57%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays reduced their price objective on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, October 7th. Zacks Research upgraded shares of Plains GP from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Raymond James Financial reduced their price target on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Friday, October 24th. Finally, Morgan Stanley lifted their price objective on shares of Plains GP from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Plains GP has an average rating of “Moderate Buy” and an average price target of $20.17.

Plains GP Company 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.