Infrastructure Capital Advisors LLC Invests $202,000 in Plains GP Holdings, L.P. (NYSE:PAGP)

Infrastructure Capital Advisors LLC purchased a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,898 shares of the pipeline company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in Plains GP by 27.7% during the first quarter. Advisors Asset Management Inc. now owns 22,651 shares of the pipeline company’s stock worth $413,000 after acquiring an additional 4,920 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Plains GP during the first quarter worth approximately $1,669,000. California State Teachers Retirement System boosted its position in Plains GP by 0.9% during the first quarter. California State Teachers Retirement System now owns 176,647 shares of the pipeline company’s stock worth $3,224,000 after acquiring an additional 1,521 shares during the last quarter. Tidal Investments LLC purchased a new position in Plains GP during the first quarter worth approximately $264,000. Finally, Plato Investment Management Ltd raised its stake in Plains GP by 249.4% during the first quarter. Plato Investment Management Ltd now owns 12,284 shares of the pipeline company’s stock worth $224,000 after purchasing an additional 8,768 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Wolfe Research raised shares of Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Finally, StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.88.

Plains GP Stock Performance

Shares of PAGP stock opened at $19.47 on Friday. The company’s fifty day simple moving average is $18.49 and its 200-day simple moving average is $18.60. Plains GP Holdings, L.P. has a 52 week low of $14.93 and a 52 week high of $20.10. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a market cap of $3.84 billion, a PE ratio of 22.91 and a beta of 1.54.

Plains GP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date was Thursday, October 31st. Plains GP’s dividend payout ratio is presently 149.41%.

Plains GP 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.