Plains GP Holdings, L.P. (NYSE:PAGP) Shares Purchased by Sfmg LLC

Sfmg LLC raised its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 87.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,489 shares of the pipeline company's stock after purchasing an additional 35,240 shares during the period. Sfmg LLC's holdings in Plains GP were worth $1,397,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in shares of Plains GP in the 2nd quarter valued at $566,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in shares of Plains GP by 1.2% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company's stock valued at $80,900,000 after buying an additional 53,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Plains GP in the 3rd quarter valued at $4,013,000. Kesler Norman & Wride LLC purchased a new position in shares of Plains GP in the 3rd quarter valued at $523,000. Finally, Algert Global LLC grew its position in shares of Plains GP by 128.6% in the 3rd quarter. Algert Global LLC now owns 87,659 shares of the pipeline company's stock valued at $1,622,000 after buying an additional 49,320 shares during the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Stock Performance

Shares of PAGP stock traded up $0.03 during mid-day trading on Thursday, hitting $19.32. The stock had a trading volume of 3,021,113 shares, compared to its average volume of 1,725,654. Plains GP Holdings, L.P. has a fifty-two week low of $14.94 and a fifty-two week high of $20.10. The firm has a market cap of $3.82 billion, a PE ratio of 22.81 and a beta of 1.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The company's 50-day simple moving average is $18.64 and its 200-day simple moving average is $18.69.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 6.57%. The ex-dividend date of this dividend was Thursday, October 31st. Plains GP's dividend payout ratio (DPR) is presently 149.41%.

Analyst Ratings Changes

A number of research firms recently commented on PAGP. Wolfe Research raised shares of Plains GP to a "hold" rating in a research report on Wednesday, September 18th. StockNews.com upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Finally, Morgan Stanley cut shares of Plains GP from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Plains GP presently has a consensus rating of "Hold" and an average 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.