Plains GP Holdings, L.P. $PAGP Shares Acquired by Founders Capital Management

Founders Capital Management increased its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 67,202 shares of the pipeline company’s stock after buying an additional 797 shares during the period. Plains GP comprises approximately 0.8% of Founders Capital Management’s holdings, making the stock its 25th biggest position. Founders Capital Management’s holdings in Plains GP were worth $1,306,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. PFG Investments LLC boosted its stake in Plains GP by 13.9% during the 2nd quarter. PFG Investments LLC now owns 42,850 shares of the pipeline company’s stock valued at $833,000 after purchasing an additional 5,213 shares during the period. Dakota Wealth Management raised its holdings in shares of Plains GP by 2.0% in the 2nd quarter. Dakota Wealth Management now owns 41,179 shares of the pipeline company’s stock worth $800,000 after purchasing an additional 820 shares in the last quarter. Northside Capital Management LLC bought a new stake in shares of Plains GP in the 2nd quarter worth approximately $843,000. Golden State Equity Partners raised its holdings in shares of Plains GP by 28.0% during the second quarter. Golden State Equity Partners now owns 13,700 shares of the pipeline company’s stock valued at $266,000 after acquiring an additional 3,000 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Plains GP during the second quarter valued at approximately $542,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PAGP. Morgan Stanley cut their price target on shares of Plains GP from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. JPMorgan Chase & Co. cut their price target on shares of Plains GP from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, September 18th. Zacks Research lowered shares of Plains GP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Wolfe Research restated a “peer perform” rating on shares of Plains GP in a report on Friday, July 25th. Finally, Mizuho boosted their price target on shares of Plains GP from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.50.

Plains GP Stock Performance

Shares of PAGP opened at $18.24 on Wednesday. The company’s 50 day moving average price is $18.96 and its 200 day moving average price is $19.05. Plains GP Holdings, L.P. has a 52 week low of $16.60 and a 52 week high of $22.31. The company has a market capitalization of $3.61 billion, a PE ratio of 34.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.52 annualized dividend and a dividend yield of 8.3%. Plains GP’s dividend payout ratio is 220.29%.

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.