Plains GP Holdings, L.P. $PAGP Position Increased by Linscomb Wealth Inc.

Linscomb Wealth Inc. raised its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 362,786 shares of the pipeline company’s stock after purchasing an additional 11,819 shares during the period. Linscomb Wealth Inc. owned about 0.18% of Plains GP worth $7,049,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Assetmark Inc. increased its stake in Plains GP by 140.8% during the second quarter. Assetmark Inc. now owns 136,694 shares of the pipeline company’s stock valued at $2,656,000 after purchasing an additional 79,921 shares during the last quarter. Keybank National Association OH increased its stake in Plains GP by 23.3% during the second quarter. Keybank National Association OH now owns 40,975 shares of the pipeline company’s stock valued at $796,000 after purchasing an additional 7,732 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in Plains GP during the second quarter valued at $1,462,000. Ashton Thomas Private Wealth LLC increased its stake in Plains GP by 14.5% during the second quarter. Ashton Thomas Private Wealth LLC now owns 35,427 shares of the pipeline company’s stock valued at $688,000 after purchasing an additional 4,483 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Plains GP by 5.6% during the second quarter. Envestnet Asset Management Inc. now owns 348,299 shares of the pipeline company’s stock valued at $6,767,000 after purchasing an additional 18,486 shares during the last quarter. Institutional investors own 88.30% of the company’s stock.

Plains GP Trading Up 0.3%

Plains GP stock opened at $17.74 on Friday. The firm has a 50 day simple moving average of $18.17 and a 200-day simple moving average of $18.65. 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 capitalization of $3.51 billion, a PE ratio of 33.47 and a beta of 0.68. Plains GP Holdings, L.P. has a 12-month low of $16.60 and a 12-month high of $22.31.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a $0.38 dividend. The ex-dividend date is Friday, October 31st. This represents a $1.52 annualized dividend and a dividend yield of 8.6%. Plains GP’s dividend payout ratio (DPR) is 220.29%.

Analysts Set New Price Targets

PAGP has been the subject of several recent research reports. Wolfe Research restated a “peer perform” rating on shares of Plains GP in a research report on Friday, July 25th. Barclays lowered their price target on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, October 7th. Raymond James Financial lowered their price target on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Friday, October 24th. JPMorgan Chase & Co. lowered their price target on shares of Plains GP from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, September 18th. Finally, Zacks Research lowered shares of Plains GP from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.13.

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.