Plains GP Holdings, L.P. $PAGP Shares Bought by HF Advisory Group LLC

HF Advisory Group LLC lifted its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 37.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 266,276 shares of the pipeline company’s stock after purchasing an additional 73,248 shares during the quarter. HF Advisory Group LLC’s holdings in Plains GP were worth $5,097,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Plains GP by 6.1% in the first quarter. Royal Bank of Canada now owns 468,314 shares of the pipeline company’s stock worth $10,003,000 after buying an additional 26,952 shares during the period. Legal & General Group Plc raised its position in Plains GP by 1.5% during the second quarter. Legal & General Group Plc now owns 207,126 shares of the pipeline company’s stock valued at $4,024,000 after acquiring an additional 3,106 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Plains GP by 3.1% during the 2nd quarter. Invesco Ltd. now owns 4,319,604 shares of the pipeline company’s stock valued at $83,930,000 after purchasing an additional 128,994 shares in the last quarter. McGowan Group Asset Management Inc. raised its holdings in Plains GP by 13.1% during the second quarter. McGowan Group Asset Management Inc. now owns 1,332,236 shares of the pipeline company’s stock valued at $25,885,000 after buying an additional 154,738 shares in the last quarter. Finally, Callodine Capital Management LP acquired a new stake in Plains GP in the 2nd quarter worth approximately $4,663,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Wall Street Analyst Weigh In

PAGP has been the topic of several recent analyst reports. Citigroup lifted their target price on shares of Plains GP from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Mizuho set a $23.00 target price on Plains GP in a research report on Friday, January 23rd. Stifel Nicolaus lifted their price objective on Plains GP from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, March 6th. Zacks Research downgraded shares of Plains GP from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. Finally, Wells Fargo & Company increased their price target on Plains GP from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Plains GP currently has an average rating of “Hold” and an average price target of $21.60.

Plains GP Stock Down 2.3%

Shares of NYSE:PAGP opened at $23.72 on Thursday. The company has a 50 day moving average of $22.37 and a 200-day moving average of $19.79. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 44.76 and a beta of 0.56. Plains GP Holdings, L.P. has a one year low of $16.60 and a one year high of $24.75. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date was Friday, January 30th. Plains GP’s dividend payout ratio is currently 129.46%.

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.