Algert Global LLC Has $1.62 Million Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Algert Global LLC lifted its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 128.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,659 shares of the pipeline company's stock after purchasing an additional 49,320 shares during the period. Algert Global LLC's holdings in Plains GP were worth $1,622,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Tortoise Capital Advisors L.L.C. lifted its stake in Plains GP by 6.4% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company's stock valued at $219,572,000 after buying an additional 703,158 shares in the last quarter. Chickasaw Capital Management LLC lifted its position in shares of Plains GP by 3.6% in the 2nd quarter. Chickasaw Capital Management LLC now owns 6,615,106 shares of the pipeline company's stock valued at $124,496,000 after acquiring an additional 232,644 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in Plains GP by 2.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 5,393,558 shares of the pipeline company's stock worth $101,507,000 after purchasing an additional 113,098 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position 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 purchasing an additional 53,000 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its stake in Plains GP by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,822,200 shares of the pipeline company's stock valued at $34,294,000 after purchasing an additional 279,100 shares during the period. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Stock Up 2.0 %

PAGP traded up $0.39 during midday trading on Thursday, hitting $19.47. 1,451,455 shares of the company's stock traded hands, compared to its average volume of 1,731,951. The company has a market cap of $3.84 billion, a PE ratio of 22.91 and a beta of 1.54. The stock's fifty day simple moving average is $18.48 and its 200-day simple moving average is $18.59. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP Holdings, L.P. has a one year low of $14.93 and a one year high of $20.10.

Plains GP Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on PAGP. Wolfe Research upgraded Plains GP to a "hold" rating in a report on Wednesday, September 18th. Morgan Stanley lowered 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 research report on Friday, October 25th. Finally, StockNews.com upgraded Plains GP from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $19.88.

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.