Wells Fargo & Company MN raised its stake in shares of Plains GP Holdings LP (NYSE:PAGP) by 707.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 953,777 shares of the company’s stock after buying an additional 835,600 shares during the period. Wells Fargo & Company MN owned 0.36% of Plains GP Holdings worth $12,342,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Alps Advisors Inc. raised its stake in shares of Plains GP Holdings by 1,096.3% in the second quarter. Alps Advisors Inc. now owns 372,112 shares of the company’s stock worth $3,881,000 after buying an additional 341,008 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Plains GP Holdings by 1.6% in the first quarter. UBS Asset Management Americas Inc. now owns 330,186 shares of the company’s stock worth $2,869,000 after buying an additional 5,127 shares during the period. Duff & Phelps Investment Management Co. raised its stake in shares of Plains GP Holdings by 21.6% in the second quarter. Duff & Phelps Investment Management Co. now owns 654,400 shares of the company’s stock worth $6,825,000 after buying an additional 116,360 shares during the period. Capital Fund Management S.A. bought a new stake in shares of Plains GP Holdings during the second quarter worth $116,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Plains GP Holdings during the second quarter worth $117,000.

Institutional Ownership by Quarter for Plains GP Holdings (NYSE:PAGP)

Plains GP Holdings LP (NYSE:PAGP) traded down 2.35% during mid-day trading on Tuesday, hitting $32.44. 878,625 shares of the stock were exchanged. The company has a 50-day moving average price of $21.03 and a 200-day moving average price of $16.31. Plains GP Holdings LP has a one year low of $6.29 and a one year high of $35.89. The company has a market cap of $3.27 billion, a P/E ratio of 24.39 and a beta of 1.51.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Monday, October 31st were given a dividend of $0.2065 per share. This represents a $0.83 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Thursday, October 27th. Plains GP Holdings’s payout ratio is currently 168.59%.

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A number of equities research analysts have recently weighed in on PAGP shares. Zacks Investment Research raised shares of Plains GP Holdings from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Tuesday, August 16th. Citigroup Inc. reissued a “buy” rating and set a $12.50 price objective (up from $12.00) on shares of Plains GP Holdings in a report on Tuesday, August 16th. Howard Weil started coverage on shares of Plains GP Holdings in a report on Thursday, August 25th. They set a “sector perform” rating on the stock. Wunderlich boosted their price objective on shares of Plains GP Holdings from $10.00 to $11.00 and gave the company a “hold” rating in a report on Wednesday, August 31st. Finally, Morgan Stanley boosted their price objective on shares of Plains GP Holdings from $12.50 to $14.00 and gave the company an “equal weight” rating in a report on Tuesday, October 4th. Eighteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $13.12.

Plains GP Holdings Company Profile

Plains GP Holdings, L.P. (PAGP) owns an interest in the general partner and incentive distribution rights (IDRs) of Plains All American Pipeline, L.P (PAA). The Company has no separate operating activities apart from those conducted by PAA. PAA owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products.

5 Day Chart for NYSE:PAGP

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