Linscomb Wealth Inc. Grows Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Linscomb Wealth Inc. boosted its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 19.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 313,100 shares of the pipeline company's stock after purchasing an additional 50,859 shares during the period. Linscomb Wealth Inc. owned about 0.16% of Plains GP worth $5,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAGP. SL Advisors LLC increased its holdings in Plains GP by 3.3% in the third quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company's stock valued at $394,000 after buying an additional 679 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Plains GP by 0.9% during the second quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company's stock worth $1,407,000 after purchasing an additional 681 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Plains GP by 1.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company's stock worth $720,000 after purchasing an additional 717 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Plains GP by 4.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,975 shares of the pipeline company's stock worth $319,000 after purchasing an additional 755 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in shares of Plains GP by 22.0% during the second quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the pipeline company's stock worth $87,000 after purchasing an additional 833 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Up 0.1 %

Shares of PAGP traded up $0.02 during midday trading on Friday, reaching $18.23. The stock had a trading volume of 1,308,313 shares, compared to its average volume of 1,751,066. Plains GP Holdings, L.P. has a 1-year low of $14.93 and a 1-year high of $20.10. The company's fifty day simple moving average is $18.44 and its two-hundred day simple moving average is $18.56. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 21.53 and a beta of 1.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.90.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.3175 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.27 annualized dividend and a yield of 6.97%. Plains GP's dividend payout ratio is currently 149.41%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PAGP shares. StockNews.com raised shares of Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Morgan Stanley cut shares of 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. Finally, Wolfe Research raised shares of Plains GP to a "hold" rating in a research note on Wednesday, September 18th. 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, the company presently has an average rating of "Hold" and an average price target 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.