Global X Management Co. LLC increased its stake in shares of Plains GP Holdings LP (NYSE:PAGP) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 382,091 shares of the company’s stock after buying an additional 635 shares during the period. Global X Management Co. LLC owned about 0.14% of Plains GP Holdings worth $4,944,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Paragon Capital Management Ltd bought a new stake in Plains GP Holdings during the second quarter valued at $107,000. Capital Fund Management S.A. bought a new stake in Plains GP Holdings during the second quarter valued at $116,000. Oppenheimer & Co. Inc. bought a new stake in Plains GP Holdings during the second quarter valued at $117,000. LS Investment Advisors LLC increased 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. Finally, BNP Paribas Arbitrage SA increased 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.

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

Plains GP Holdings LP (NYSE:PAGP) traded up 8.18% during trading on Wednesday, reaching $35.16. 2,847,898 shares of the company’s stock traded hands. 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 12-month low of $6.29 and a 12-month high of $35.89. The company has a market cap of $3.54 billion, a PE ratio of 26.44 and a beta of 1.51.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were issued a $0.2065 dividend. The ex-dividend date was Thursday, October 27th. This represents a $0.83 annualized dividend and a dividend yield of 2.35%. Plains GP Holdings’s dividend payout ratio is currently 168.59%.

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Several equities analysts recently issued reports on the stock. Wells Fargo & Co. raised shares of Plains GP Holdings from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 5th. Stifel Nicolaus lifted their price objective on shares of Plains GP Holdings from $29.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, November 17th. Zacks Investment Research lowered shares of Plains GP Holdings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 9th. Morgan Stanley lifted 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. Finally, 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. Eighteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Plains GP Holdings has a consensus rating of “Hold” and an average price target of $13.12.

About Plains GP Holdings

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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