Stephens Inc. AR Increases Position in Plains GP Holdings, L.P. $PAGP

Stephens Inc. AR raised its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 9.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 257,905 shares of the pipeline company’s stock after purchasing an additional 22,496 shares during the period. Stephens Inc. AR owned approximately 0.13% of Plains GP worth $6,262,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Energy Income Partners LLC raised its position in Plains GP by 1.0% in the 3rd quarter. Energy Income Partners LLC now owns 10,196,673 shares of the pipeline company’s stock worth $185,987,000 after purchasing an additional 102,916 shares during the period. Invesco Ltd. boosted its position in Plains GP by 1.5% during the third quarter. Invesco Ltd. now owns 4,386,299 shares of the pipeline company’s stock valued at $80,006,000 after buying an additional 66,695 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Plains GP by 3.9% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,725,000 shares of the pipeline company’s stock valued at $71,296,000 after buying an additional 140,000 shares during the last quarter. UBS Group AG grew its stake in shares of Plains GP by 1.7% during the fourth quarter. UBS Group AG now owns 3,407,809 shares of the pipeline company’s stock valued at $65,225,000 after buying an additional 58,003 shares during the last quarter. Finally, Advisors Capital Management LLC increased its holdings in shares of Plains GP by 6.1% in the fourth quarter. Advisors Capital Management LLC now owns 2,829,953 shares of the pipeline company’s stock worth $54,165,000 after buying an additional 163,094 shares during the period. Institutional investors own 88.30% of the company’s stock.

Plains GP Stock Up 2.0%

Shares of NYSE:PAGP opened at $24.65 on Wednesday. The firm has a market capitalization of $4.88 billion, a P/E ratio of 46.51 and a beta of 0.45. 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 stock has a 50 day moving average price of $24.27 and a 200-day moving average price of $22.65. Plains GP Holdings, L.P. has a 52-week low of $16.68 and a 52-week high of $26.15.

Plains GP Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Friday, July 31st. Plains GP’s payout ratio is 172.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PAGP. Mizuho lifted their price target on Plains GP from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Barclays increased their price objective on Plains GP from $18.00 to $21.00 and gave the company an “underweight” rating in a research note on Friday, April 10th. Citigroup lifted their target price on shares of Plains GP from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Wells Fargo & Company upped their price target on shares of Plains GP from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Finally, The Goldman Sachs Group raised shares of Plains GP from a “sell” rating to a “neutral” rating and increased their price target for the company from $18.00 to $24.00 in a research report on Wednesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.00.

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.