Yaupon Capital Management LP Invests $9.77 Million in Plains GP Holdings, L.P. (NYSE:PAGP)

Yaupon Capital Management LP bought a new stake in Plains GP Holdings, L.P. (NYSE:PAGP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 528,231 shares of the pipeline company’s stock, valued at approximately $9,772,000. Yaupon Capital Management LP owned 0.27% of Plains GP at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SL Advisors LLC boosted its holdings in shares of Plains GP by 3.3% in the 3rd quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company’s stock valued at $394,000 after acquiring an additional 679 shares during the last quarter. NewEdge Advisors LLC lifted its position in Plains GP by 0.9% during the second quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company’s stock valued at $1,407,000 after purchasing an additional 681 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Plains GP by 1.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 717 shares during the last quarter. Townsquare Capital LLC grew its position in Plains GP by 1.2% during the 3rd quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock worth $1,110,000 after purchasing an additional 729 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Plains GP by 4.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,975 shares of the pipeline company’s stock valued at $319,000 after buying an additional 755 shares during the period. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PAGP. Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $19.00 in a report on Friday, October 25th. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Wolfe Research upgraded shares of Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.88.

Plains GP Stock Down 1.8 %

Plains GP stock opened at $19.58 on Friday. Plains GP Holdings, L.P. has a 12 month low of $14.93 and a 12 month high of $20.10. The stock has a market capitalization of $3.87 billion, a PE ratio of 23.04 and a beta of 1.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The business has a 50 day simple moving average of $18.59 and a 200-day simple moving average of $18.66.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 6.49%. The ex-dividend date of this dividend was Thursday, October 31st. Plains GP’s dividend payout ratio is presently 149.41%.

Plains GP 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.