16,880 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Purchased by Aegis Wealth Management LLC

Aegis Wealth Management LLC bought a new stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,880 shares of the pipeline company’s stock, valued at approximately $310,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. grew its stake in shares of Plains GP by 8.0% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company’s stock valued at $229,989,000 after purchasing an additional 927,855 shares during the period. Algert Global LLC grew its holdings in Plains GP by 781.8% during the fourth quarter. Algert Global LLC now owns 772,966 shares of the pipeline company’s stock worth $14,207,000 after acquiring an additional 685,307 shares during the period. Clearbridge Investments LLC boosted its holdings in Plains GP by 11.7% in the 4th quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company’s stock worth $113,077,000 after buying an additional 646,130 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Plains GP by 31.0% in the 4th quarter. Hsbc Holdings PLC now owns 2,036,816 shares of the pipeline company’s stock valued at $37,436,000 after purchasing an additional 482,213 shares during the last quarter. Finally, Voleon Capital Management LP acquired a new position in Plains GP during the fourth quarter worth $7,418,000. 88.30% of the stock is owned by institutional investors.

Plains GP Stock Performance

NYSE PAGP opened at $18.09 on Wednesday. The company has a 50-day simple moving average of $18.90 and a two-hundred day simple moving average of $19.69. Plains GP Holdings, L.P. has a 12-month low of $16.61 and a 12-month high of $22.31. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 34.13 and a beta of 0.68. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.40%. The ex-dividend date was Thursday, May 1st. Plains GP’s dividend payout ratio is currently 205.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays cut their price objective on shares of Plains GP from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Thursday, April 10th. Morgan Stanley raised their price objective on shares of Plains GP from $19.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 25th. Wall Street Zen upgraded Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Citigroup cut their target price on shares of Plains GP from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Finally, Mizuho cut their target price on shares of Plains GP from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Plains GP currently has a consensus rating of “Moderate Buy” and an average price target of $20.71.

Plains GP Company Profile

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream infrastructure systems in the United States and Canada. It operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the gathering and transporting crude oil and NGLs using pipelines, gathering systems, and trucks.