Plains GP Holdings, L.P. $PAGP Stake Raised by Eagle Global Advisors LLC

Eagle Global Advisors LLC boosted its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 3.9% in the third quarter, HoldingsChannel reports. The fund owned 1,168,500 shares of the pipeline company’s stock after buying an additional 44,100 shares during the quarter. Plains GP accounts for 0.8% of Eagle Global Advisors LLC’s portfolio, making the stock its 27th biggest holding. Eagle Global Advisors LLC’s holdings in Plains GP were worth $21,313,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Stephens Inc. AR boosted its holdings in shares of Plains GP by 4.1% during the third quarter. Stephens Inc. AR now owns 232,813 shares of the pipeline company’s stock worth $4,247,000 after purchasing an additional 9,243 shares during the period. MGO One Seven LLC acquired a new position in Plains GP in the 3rd quarter valued at approximately $375,000. Bayforest Capital Ltd lifted its position in Plains GP by 27.0% in the 3rd quarter. Bayforest Capital Ltd now owns 37,989 shares of the pipeline company’s stock worth $693,000 after buying an additional 8,065 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Plains GP by 67.4% during the 3rd quarter. SG Americas Securities LLC now owns 12,419 shares of the pipeline company’s stock valued at $227,000 after buying an additional 5,002 shares during the period. Finally, KLP Kapitalforvaltning AS grew its holdings in shares of Plains GP by 7.8% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 42,700 shares of the pipeline company’s stock valued at $779,000 after acquiring an additional 3,100 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Performance

Shares of NYSE PAGP opened at $20.25 on Thursday. The business’s 50-day simple moving average is $18.67 and its 200-day simple moving average is $18.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP Holdings, L.P. has a 52 week low of $16.60 and a 52 week high of $22.31. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 38.21 and a beta of 0.56.

Plains GP Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be issued a dividend of $0.4175 per share. The ex-dividend date is Friday, January 30th. Plains GP’s dividend payout ratio (DPR) is 179.57%.

Analyst Ratings Changes

Several brokerages recently issued reports on PAGP. Morgan Stanley increased their price objective on Plains GP from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Zacks Research raised Plains GP from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 9th. Raymond James Financial reduced their price target on Plains GP from $24.00 to $22.00 and set a “strong-buy” rating for the company in a report on Friday, October 24th. JPMorgan Chase & Co. lowered their price target on Plains GP from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, September 18th. Finally, Barclays cut their price objective on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.17.

Plains GP Profile

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.