Vident Advisory LLC Has $2.55 Million Holdings in Plains GP Holdings, L.P. $PAGP

by · The Cerbat Gem

Vident Advisory LLC increased its holdings in Plains GP Holdings, L.P. (NYSE:PAGP – Free Report) by 25.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,547 shares of the pipeline company’s stock after purchasing an additional 24,294 shares during the quarter. Vident Advisory LLC owned approximately 0.06% of Plains GP worth $2,554,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC grew its position in shares of Plains GP by 233.1% in the 1st quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company’s stock valued at $128,000 after buying an additional 4,195 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Plains GP in the first quarter worth approximately $135,000. McIlrath & Eck LLC bought a new stake in Plains GP in the fourth quarter valued at approximately $166,000. GAMMA Investing LLC increased its position in Plains GP by 2,252.7% during the 1st quarter. GAMMA Investing LLC now owns 8,352 shares of the pipeline company’s stock valued at $178,000 after purchasing an additional 7,997 shares during the period. Finally, State of Wyoming raised its holdings in Plains GP by 192.3% during the 1st quarter. State of Wyoming now owns 8,311 shares of the pipeline company’s stock worth $178,000 after purchasing an additional 5,468 shares during the last quarter. 88.30% of the stock is owned by institutional investors.

Plains GP Trading Up 0.3%

PAGP opened at $19.30 on Monday. The company has a fifty day moving average price of $19.36 and a two-hundred day moving average price of $19.42. Plains GP Holdings, L.P. has a 1-year low of $16.60 and a 1-year high of $22.31. The company has a market cap of $3.82 billion, a P/E ratio of 36.42 and a beta of 0.70. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend was Thursday, July 31st. Plains GP’s payout ratio is presently 220.29%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Plains GP from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. Wolfe Research restated a “peer perform” rating on shares of Plains GP in a report on Friday, July 25th. Mizuho increased their price target on Plains GP from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, June 18th. Wall Street Zen raised Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Finally, Citigroup cut their target price on Plains GP from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Plains GP presently has an average rating of “Hold” and a consensus price target of $20.50.

View Our Latest Research Report on Plains GP

About Plains GP

(Free Report)

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.

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