BNP Paribas Financial Markets Raises Stock Holdings in Plains GP Holdings, L.P. $PAGP

BNP Paribas Financial Markets boosted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 17.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,580,488 shares of the pipeline company’s stock after purchasing an additional 239,723 shares during the period. BNP Paribas Financial Markets owned about 0.80% of Plains GP worth $33,759,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PAGP. Golden State Wealth Management LLC boosted its holdings in Plains GP by 233.1% in the first quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company’s stock valued at $128,000 after purchasing an additional 4,195 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Plains GP in the first quarter valued at about $135,000. McIlrath & Eck LLC purchased a new position in Plains GP in the fourth quarter valued at about $166,000. GAMMA Investing LLC boosted its holdings in Plains GP by 2,252.7% in the first quarter. GAMMA Investing LLC now owns 8,352 shares of the pipeline company’s stock valued at $178,000 after purchasing an additional 7,997 shares during the last quarter. Finally, Baker Avenue Asset Management LP purchased a new position in Plains GP in the first quarter valued at about $203,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PAGP. Wall Street Zen raised Plains GP from a “hold” rating to a “buy” rating in a report on Friday, May 16th. JPMorgan Chase & Co. increased their target price on Plains GP from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, June 18th. Wolfe Research reaffirmed a “peer perform” rating on shares of Plains GP in a report on Friday, July 25th. Citigroup reduced their target price on Plains GP from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Finally, Morgan Stanley reduced their target price on Plains GP from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Plains GP has an average rating of “Hold” and an average price target of $20.50.

Plains GP Trading Up 0.3%

Shares of NYSE PAGP opened at $19.30 on Tuesday. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 36.42 and a beta of 0.70. Plains GP Holdings, L.P. has a 12-month low of $16.60 and a 12-month high of $22.31. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock’s 50 day simple moving average is $19.35 and its 200 day simple moving average is $19.41.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.52 annualized dividend and a dividend yield of 7.9%. Plains GP’s dividend payout ratio (DPR) is 220.29%.

About Plains GP

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.