Thompson Siegel & Walmsley LLC Makes New $13.85 Million Investment in Plains GP Holdings, L.P. (NYSE:PAGP)

Thompson Siegel & Walmsley LLC bought a new stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 748,540 shares of the pipeline company's stock, valued at approximately $13,848,000. Thompson Siegel & Walmsley LLC owned 0.38% of Plains GP at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PAGP. Russell Investments Group Ltd. raised its position in shares of Plains GP by 3.8% in the first quarter. Russell Investments Group Ltd. now owns 70,710 shares of the pipeline company's stock worth $1,290,000 after acquiring an additional 2,582 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Plains GP by 27.7% during the 1st quarter. Advisors Asset Management Inc. now owns 22,651 shares of the pipeline company's stock valued at $413,000 after buying an additional 4,920 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Plains GP in the 1st quarter valued at $1,669,000. California State Teachers Retirement System increased its holdings in Plains GP by 0.9% in the 1st quarter. California State Teachers Retirement System now owns 176,647 shares of the pipeline company's stock worth $3,224,000 after acquiring an additional 1,521 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in shares of Plains GP during the 1st quarter worth about $264,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on PAGP. Morgan Stanley downgraded Plains GP from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Wolfe Research upgraded Plains GP to a "hold" rating in a report on Wednesday, September 18th. Finally, StockNews.com raised shares of Plains GP from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Two equities 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's stock. Based on data from MarketBeat, Plains GP presently has an average rating of "Hold" and a consensus price target of $19.88.

Plains GP Trading Up 2.3 %

PAGP traded up $0.43 during trading hours on Thursday, reaching $19.24. The company's stock had a trading volume of 1,415,258 shares, compared to its average volume of 1,742,759. The business's 50-day moving average is $18.44 and its 200-day moving average is $18.57. 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 stock has a market cap of $3.80 billion, a PE ratio of 21.85 and a beta of 1.54. Plains GP Holdings, L.P. has a fifty-two week low of $14.93 and a fifty-two week high of $20.10.

Plains GP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.3175 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a yield of 6.60%. Plains GP's payout ratio is currently 149.41%.

Plains GP Company 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.