Algert Global LLC Purchases 49,320 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Algert Global LLC lifted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 128.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,659 shares of the pipeline company’s stock after buying an additional 49,320 shares during the period. Algert Global LLC’s holdings in Plains GP were worth $1,622,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Thompson Siegel & Walmsley LLC purchased a new position in Plains GP in the 3rd quarter worth $13,848,000. Linscomb Wealth Inc. raised its position in Plains GP by 19.4% during the 3rd quarter. Linscomb Wealth Inc. now owns 313,100 shares of the pipeline company’s stock valued at $5,792,000 after purchasing an additional 50,859 shares during the last quarter. Entropy Technologies LP increased its stake in shares of Plains GP by 29.9% during the third quarter. Entropy Technologies LP now owns 48,052 shares of the pipeline company’s stock valued at $889,000 after buying an additional 11,073 shares during the period. Oxbow Advisors LLC raised its holdings in shares of Plains GP by 0.8% during the third quarter. Oxbow Advisors LLC now owns 667,892 shares of the pipeline company’s stock valued at $12,356,000 after acquiring an additional 5,519 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in Plains GP in the third quarter valued at $3,144,000. Institutional investors own 88.30% of the company’s stock.

Plains GP Price Performance

Shares of NYSE:PAGP opened at $19.47 on Thursday. The firm’s 50 day moving average price is $18.48 and its 200-day moving average price is $18.59. The stock has a market capitalization of $3.84 billion, a PE ratio of 22.91 and a beta of 1.54. Plains GP Holdings, L.P. has a twelve month low of $14.93 and a twelve month high of $20.10. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 6.52%. The ex-dividend date of this dividend was Thursday, October 31st. Plains GP’s dividend payout ratio is presently 149.41%.

Analyst Upgrades and Downgrades

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

Plains GP Company 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.