Vise Technologies Inc. Buys New Position in Plains GP Holdings, L.P. $PAGP

Vise Technologies Inc. purchased a new stake in Plains GP Holdings, L.P. (NYSE:PAGP) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 33,098 shares of the pipeline company’s stock, valued at approximately $643,000.

Other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank bought a new stake in shares of Plains GP during the 2nd quarter valued at about $31,000. Caitong International Asset Management Co. Ltd lifted its holdings in Plains GP by 378.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,997 shares of the pipeline company’s stock worth $39,000 after buying an additional 1,580 shares during the period. Ameritas Advisory Services LLC bought a new stake in Plains GP during the 2nd quarter valued at approximately $51,000. CWM LLC grew its holdings in shares of Plains GP by 394.5% during the 2nd quarter. CWM LLC now owns 2,883 shares of the pipeline company’s stock worth $56,000 after acquiring an additional 2,300 shares during the period. Finally, Allworth Financial LP raised its position in shares of Plains GP by 43.2% in the 2nd quarter. Allworth Financial LP now owns 3,484 shares of the pipeline company’s stock worth $68,000 after acquiring an additional 1,051 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors.

Plains GP Trading Up 2.0%

Shares of NYSE PAGP opened at $17.86 on Friday. The company has a market cap of $3.53 billion, a PE ratio of 33.70 and a beta of 0.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The firm’s 50 day moving average price is $17.84 and its 200-day moving average price is $18.54. Plains GP Holdings, L.P. has a 52-week low of $16.60 and a 52-week high of $22.31.

Plains GP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.5%. The ex-dividend date was Friday, October 31st. Plains GP’s dividend payout ratio (DPR) is currently 163.44%.

Wall Street Analyst Weigh In

PAGP has been the topic of several research reports. Barclays dropped their price target on Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 7th. Wolfe Research restated a “peer perform” rating on shares of Plains GP in a report on Friday, July 25th. Raymond James Financial decreased 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 note 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 upgraded shares of Plains GP from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.13.

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.