Plains GP Holdings, L.P. $PAGP Shares Acquired by Tidal Investments LLC

Tidal Investments LLC increased its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 156.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 49,043 shares of the pipeline company’s stock after buying an additional 29,925 shares during the period. Tidal Investments LLC’s holdings in Plains GP were worth $1,190,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAGP. First Bancorp Inc ME purchased a new stake in Plains GP during the second quarter valued at about $30,000. North Star Investment Management Corp. purchased a new position in shares of Plains GP in the 1st quarter worth about $56,000. Continuum Advisory LLC purchased a new position in shares of Plains GP in the 2nd quarter worth about $61,000. Ameritas Advisory Services LLC acquired a new position in shares of Plains GP in the 2nd quarter valued at about $64,000. Finally, O Domhnaill Enterprises Inc. acquired a new position in shares of Plains GP in the 1st quarter valued at about $66,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Price Performance

Shares of NYSE PAGP opened at $27.67 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP Holdings, L.P. has a 1-year low of $16.68 and a 1-year high of $28.70. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 52.21 and a beta of 0.48. The business has a 50-day moving average of $26.66 and a 200-day moving average of $24.91.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Friday, July 31st. Plains GP’s dividend payout ratio is currently 59.86%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Zacks Research raised shares of Plains GP from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 22nd. The Goldman Sachs Group raised shares of Plains GP from a “sell” rating to a “neutral” rating and lifted their price target for the company from $18.00 to $24.00 in a research report on Wednesday, June 3rd. Morgan Stanley boosted their price objective on shares of Plains GP from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. Barclays increased their price objective on shares of Plains GP from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Thursday, July 16th. Finally, Citigroup raised their target price on shares of Plains GP from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Plains GP has an average rating of “Hold” and a consensus price target of $24.55.

Plains GP Profile

Plains GP Holdings, L.P. (NYSE:PAGP) is a publicly traded holding company that owns interests in Plains All American Pipeline, L.P. (PAA), an energy infrastructure partnership. Plains GP Holdings generally conducts its activities through its ownership and governance interests in PAA rather than through a separate operating business.

Through PAA, the company is involved in the transportation, storage, gathering, terminaling and logistics of crude oil and natural gas liquids. Its infrastructure includes pipelines, storage facilities, gathering systems, rail and truck facilities, and export and terminal assets that support the movement of energy commodities from production areas to refineries, processing facilities and other markets.

Plains’ operations primarily serve the United States and Canada, with significant infrastructure in major North American crude oil and NGL producing and consuming regions.