10,898 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Bought by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC purchased a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,898 shares of the pipeline company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its stake in Plains GP by 644.7% during the 1st quarter. Cetera Investment Advisers now owns 154,961 shares of the pipeline company’s stock worth $2,828,000 after buying an additional 134,153 shares during the period. Janus Henderson Group PLC acquired a new position in Plains GP during the 1st quarter worth $1,669,000. Bank of New York Mellon Corp acquired a new position in Plains GP during the 2nd quarter worth $566,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Plains GP by 1.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock worth $80,900,000 after acquiring an additional 53,000 shares in the last quarter. Finally, Kesler Norman & Wride LLC acquired a new position in Plains GP during the 3rd quarter worth $523,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Trading Up 2.0 %

NYSE PAGP opened at $19.47 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The company has a 50-day simple moving average of $18.49 and a 200-day simple moving average of $18.60. The firm has a market capitalization of $3.84 billion, a PE ratio of 22.91 and a beta of 1.54. Plains GP Holdings, L.P. has a one year low of $14.93 and a one year high of $20.10.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date of this dividend was Thursday, October 31st. Plains GP’s payout ratio is 149.41%.

Analyst Ratings Changes

PAGP has been the subject of several recent analyst reports. Wolfe Research raised shares of Plains GP to a “hold” rating in a report on Wednesday, September 18th. Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.88.

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.