Pacer Advisors Inc. Has $1.56 Million Stake in Plains GP Holdings, L.P. $PAGP

Pacer Advisors Inc. lessened its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 34.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,146 shares of the pipeline company’s stock after selling 34,372 shares during the quarter. Pacer Advisors Inc.’s holdings in Plains GP were worth $1,557,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Energy Income Partners LLC increased 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 last quarter. Invesco Ltd. lifted its holdings in shares of Plains GP by 1.5% during the 3rd 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 last quarter. Bank of America Corp DE lifted its holdings in shares of Plains GP by 86.3% during the 1st quarter. Bank of America Corp DE now owns 3,752,707 shares of the pipeline company’s stock valued at $91,116,000 after buying an additional 1,738,351 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Plains GP by 3.9% in the 4th 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 in the last quarter. Finally, UBS Group AG increased its holdings in Plains GP by 1.7% in the fourth quarter. UBS Group AG now owns 3,407,809 shares of the pipeline company’s stock worth $65,225,000 after buying an additional 58,003 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Price Performance

Shares of PAGP stock opened at $24.74 on Friday. Plains GP Holdings, L.P. has a 12 month low of $16.68 and a 12 month high of $26.77. 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 has a 50 day moving average of $24.85 and a two-hundred day moving average of $23.65. The company has a market capitalization of $4.90 billion, a P/E ratio of 46.68 and a beta of 0.46.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, July 31st. Plains GP’s payout ratio is currently 172.16%.

Analysts Set New Price Targets

A number of analysts have issued reports on PAGP shares. Citigroup lifted their target price on shares of Plains GP from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. US Capital Advisors downgraded shares of Plains GP from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. The Goldman Sachs Group raised shares of Plains GP from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $18.00 to $24.00 in a research note on Wednesday, June 3rd. Barclays upped their price objective on shares of Plains GP from $21.00 to $23.00 and gave the stock an “underweight” rating in a report on Thursday, July 16th. Finally, Mizuho raised their target price on Plains GP from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.36.

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.