Hennessy Advisors Inc. boosted its stake in Plains GP Holdings LP (NYSE:PAGP) by 11.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,250,277 shares of the company’s stock after buying an additional 127,500 shares during the period. Hennessy Advisors Inc. owned 0.47% of Plains GP Holdings worth $16,179,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in Plains GP Holdings by 32.4% in the second quarter. BNP Paribas Arbitrage SA now owns 14,302 shares of the company’s stock valued at $149,000 after buying an additional 3,498 shares in the last quarter. Creative Planning boosted its stake in Plains GP Holdings by 58.9% in the second quarter. Creative Planning now owns 27,234 shares of the company’s stock valued at $284,000 after buying an additional 10,100 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Plains GP Holdings by 71.5% in the second quarter. Nisa Investment Advisors LLC now owns 34,300 shares of the company’s stock valued at $358,000 after buying an additional 14,300 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Plains GP Holdings during the second quarter valued at approximately $229,000. Finally, LS Investment Advisors LLC boosted its stake in Plains GP Holdings by 27.4% in the second quarter. LS Investment Advisors LLC now owns 13,139 shares of the company’s stock valued at $137,000 after buying an additional 2,828 shares in the last quarter.

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

Shares of Plains GP Holdings LP (NYSE:PAGP) traded up 8.28% during midday trading on Wednesday, reaching $35.19. 1,185,991 shares of the company’s stock traded hands. The stock has a 50 day moving average of $21.03 and a 200-day moving average of $16.31. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 26.46 and a beta of 1.51. Plains GP Holdings LP has a 52-week low of $6.29 and a 52-week high of $35.89.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were paid a dividend of $0.2065 per share. The ex-dividend date of this dividend was Thursday, October 27th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 2.54%. Plains GP Holdings’s dividend payout ratio is 168.59%.

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A number of analysts have issued reports on the stock. Wells Fargo & Co. upgraded shares of Plains GP Holdings from a “market perform” rating to an “outperform” rating in a research note on Wednesday, October 5th. Stifel Nicolaus lifted their target price on shares of Plains GP Holdings from $29.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, November 17th. Zacks Investment Research cut shares of Plains GP Holdings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 9th. Morgan Stanley lifted their target price on shares of Plains GP Holdings from $12.50 to $14.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 4th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $12.50 target price (up from $12.00) on shares of Plains GP Holdings in a research note on Tuesday, August 16th. Eighteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average 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.

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