Larson Financial Group LLC Makes New $353,000 Investment in Plains GP Holdings, L.P. (NYSE:PAGP)

Larson Financial Group LLC acquired a new stake in Plains GP Holdings, L.P. (NYSE:PAGP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,089 shares of the pipeline company’s stock, valued at approximately $353,000.

A number of other hedge funds also recently made changes to their positions in the business. Tortoise Capital Advisors L.L.C. raised its stake in Plains GP by 6.4% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company’s stock valued at $219,572,000 after acquiring an additional 703,158 shares during the period. Chickasaw Capital Management LLC increased its holdings in shares of Plains GP by 3.6% in the second quarter. Chickasaw Capital Management LLC now owns 6,615,106 shares of the pipeline company’s stock valued at $124,496,000 after purchasing an additional 232,644 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of Plains GP by 2.1% in the second quarter. Westwood Holdings Group Inc. now owns 5,393,558 shares of the pipeline company’s stock valued at $101,507,000 after purchasing an additional 113,098 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of Plains GP by 1.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock worth $80,900,000 after buying an additional 53,000 shares during the last quarter. Finally, Hennessy Advisors Inc. boosted its holdings in shares of Plains GP by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,822,200 shares of the pipeline company’s stock worth $34,294,000 after buying an additional 279,100 shares during the period. 88.30% of the stock is owned by institutional investors and hedge funds.

Plains GP Price Performance

Shares of NYSE PAGP opened at $19.08 on Wednesday. The business has a fifty day moving average price of $18.47 and a two-hundred day moving average price of $18.59. The stock has a market capitalization of $3.77 billion, a PE ratio of 22.45 and a beta of 1.54. 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 fifty-two week low of $14.93 and a fifty-two week high of $20.10.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 6.66%. The ex-dividend date was Thursday, October 31st. Plains GP’s dividend payout ratio (DPR) is presently 149.41%.

Analysts Set New Price Targets

Several research analysts have weighed in on PAGP shares. Wolfe Research raised shares of Plains GP to a “hold” rating in a report on Wednesday, September 18th. Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Plains GP currently has an average rating of “Hold” and an average price target of $19.88.

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.