Plains GP Holdings, L.P. $PAGP Shares Acquired by Linscomb Wealth Inc.

Linscomb Wealth Inc. increased its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 3.4% during the second quarter, HoldingsChannel.com reports. The fund owned 362,786 shares of the pipeline company’s stock after buying an additional 11,819 shares during the period. Linscomb Wealth Inc.’s holdings in Plains GP were worth $7,049,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Stephens Inc. AR boosted its holdings in shares of Plains GP by 0.3% in the second quarter. Stephens Inc. AR now owns 223,570 shares of the pipeline company’s stock worth $4,344,000 after buying an additional 739 shares during the period. Founders Capital Management boosted its holdings in shares of Plains GP by 1.2% in the second quarter. Founders Capital Management now owns 67,202 shares of the pipeline company’s stock worth $1,306,000 after buying an additional 797 shares during the period. Dakota Wealth Management boosted its holdings in shares of Plains GP by 2.0% in the second quarter. Dakota Wealth Management now owns 41,179 shares of the pipeline company’s stock worth $800,000 after buying an additional 820 shares during the period. Pin Oak Investment Advisors Inc. boosted its holdings in shares of Plains GP by 1.3% in the first quarter. Pin Oak Investment Advisors Inc. now owns 83,779 shares of the pipeline company’s stock worth $1,758,000 after buying an additional 1,035 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Plains GP by 9.6% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 12,971 shares of the pipeline company’s stock worth $252,000 after buying an additional 1,131 shares during the period. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Price Performance

NYSE PAGP opened at $17.74 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $3.51 billion, a PE ratio of 33.47 and a beta of 0.68. The company has a 50 day moving average price of $18.17 and a two-hundred day moving average price of $18.65. Plains GP Holdings, L.P. has a 12-month low of $16.60 and a 12-month high of $22.31.

Plains GP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $0.38 dividend. The ex-dividend date is Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 8.6%. Plains GP’s payout ratio is 220.29%.

Analyst Ratings Changes

Several research analysts have commented on PAGP shares. Raymond James Financial decreased their target price on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating for the company in a report on Friday, October 24th. Zacks Research cut shares of Plains GP from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Wolfe Research reiterated a “peer perform” rating on shares of Plains GP in a report on Friday, July 25th. Morgan Stanley decreased their price target on shares of Plains GP from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. Finally, Barclays decreased their price target on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.13.

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.