Founders Capital Management Has $2.23 Million Position in Plains GP Holdings, L.P. $PAGP

Founders Capital Management raised its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 81.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,258 shares of the pipeline company’s stock after acquiring an additional 55,056 shares during the period. Plains GP makes up about 1.2% of Founders Capital Management’s portfolio, making the stock its 24th biggest holding. Founders Capital Management’s holdings in Plains GP were worth $2,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of PAGP. Massachusetts Financial Services Co. MA increased its position in shares of Plains GP by 2.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,117,959 shares of the pipeline company’s stock worth $196,592,000 after purchasing an additional 247,365 shares during the period. Caprock Group LLC bought a new stake in Plains GP during the third quarter worth about $3,088,000. Chickasaw Capital Management LLC lifted its position in Plains GP by 5.9% during the third quarter. Chickasaw Capital Management LLC now owns 8,832,780 shares of the pipeline company’s stock worth $161,110,000 after purchasing an additional 494,259 shares during the period. Osaic Holdings Inc. grew its stake in Plains GP by 75.3% during the second quarter. Osaic Holdings Inc. now owns 291,320 shares of the pipeline company’s stock worth $5,661,000 after buying an additional 125,169 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC increased its holdings in Plains GP by 16.8% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 800,863 shares of the pipeline company’s stock valued at $14,608,000 after buying an additional 115,020 shares during the period. 88.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on PAGP shares. Citigroup upped their price target on shares of Plains GP from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Stifel Nicolaus boosted their price objective on shares of Plains GP from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Zacks Research cut Plains GP from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Barclays boosted their price target on Plains GP from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Monday, February 9th. Finally, Morgan Stanley upped their price objective on Plains GP from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six 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 $21.11.

Plains GP Price Performance

Shares of NYSE:PAGP opened at $23.04 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. Plains GP Holdings, L.P. has a 52 week low of $16.60 and a 52 week high of $24.00. The firm has a market cap of $4.56 billion, a PE ratio of 43.47 and a beta of 0.56. The firm’s fifty day moving average is $21.28 and its 200-day moving average is $19.30.

Plains GP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a dividend of $0.4175 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.67 annualized dividend and a yield of 7.2%. Plains GP’s payout ratio is presently 129.46%.

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.