Invesco Ltd. Has $53.90 Million Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Invesco Ltd. grew its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,932,295 shares of the pipeline company's stock after acquiring an additional 27,148 shares during the period. Invesco Ltd. owned 1.48% of Plains GP worth $53,896,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PAGP. State Street Corp raised its stake in Plains GP by 17.1% in the 3rd quarter. State Street Corp now owns 640,918 shares of the pipeline company's stock worth $11,857,000 after purchasing an additional 93,643 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Plains GP by 2.3% in the third quarter. Geode Capital Management LLC now owns 156,635 shares of the pipeline company's stock valued at $2,898,000 after buying an additional 3,582 shares in the last quarter. Sfmg LLC boosted its stake in shares of Plains GP by 87.6% in the third quarter. Sfmg LLC now owns 75,489 shares of the pipeline company's stock valued at $1,397,000 after buying an additional 35,240 shares during the period. Chickasaw Capital Management LLC grew its position in Plains GP by 24.7% during the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company's stock worth $151,047,000 after buying an additional 1,629,008 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its stake in Plains GP by 16.7% during the 4th quarter. 180 Wealth Advisors LLC now owns 14,000 shares of the pipeline company's stock worth $257,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 88.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wolfe Research raised Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a report on Friday, January 10th. Barclays reduced their price objective on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. StockNews.com cut shares of Plains GP from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Raymond James increased their price target on shares of Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Morgan Stanley boosted their price objective on shares of Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $20.83.

Plains GP Price Performance

Shares of NYSE:PAGP traded down $0.42 during trading on Monday, hitting $18.51. 69,906 shares of the company were exchanged, compared to its average volume of 1,588,256. Plains GP Holdings, L.P. has a 1-year low of $16.61 and a 1-year high of $22.31. The company has a market capitalization of $3.66 billion, a P/E ratio of 34.93 and a beta of 1.11. 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 business's 50 day moving average is $20.43 and its 200-day moving average is $19.69.

Plains GP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, May 1st. This represents a $1.52 annualized dividend and a yield of 8.21%. Plains GP's dividend payout ratio is presently 286.79%.

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.