CWA Asset Management Group LLC Invests $3.14 Million in Plains GP Holdings, L.P. (NYSE:PAGP)

CWA Asset Management Group LLC acquired a new position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 169,955 shares of the pipeline company's stock, valued at approximately $3,144,000. CWA Asset Management Group LLC owned approximately 0.09% of Plains GP as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC bought a new position in shares of Plains GP in the second quarter valued at approximately $44,000. CWM LLC grew its stake in Plains GP by 61.0% in the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company's stock valued at $57,000 after purchasing an additional 1,147 shares during the period. Hara Capital LLC purchased a new stake in shares of Plains GP during the 3rd quarter valued at $57,000. Unique Wealth Strategies LLC bought a new stake in shares of Plains GP during the 2nd quarter worth $70,000. Finally, Eastern Bank purchased a new position in shares of Plains GP in the 3rd quarter worth about $76,000. Hedge funds and other institutional investors own 88.30% of the company's stock.

Plains GP Stock Performance

PAGP traded down $0.55 on Friday, hitting $18.27. The company's stock had a trading volume of 2,842,899 shares, compared to its average volume of 1,760,162. The company's 50 day simple moving average is $18.50 and its 200-day simple moving average is $18.58. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 12 month low of $14.93 and a 12 month high of $20.10. The firm has a market cap of $3.60 billion, a P/E ratio of 21.49 and a beta of 1.54.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 6.95%. The ex-dividend date of this dividend is Thursday, October 31st. Plains GP's dividend payout ratio is presently 149.41%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PAGP. StockNews.com upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a report on Friday. Wolfe Research upgraded shares of Plains GP to a "hold" rating in a research note on Wednesday, September 18th. Finally, Morgan Stanley downgraded Plains GP from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.