Stephens Inc. AR boosted its stake in shares of Plains Group Holdings, L.P. (NYSE:PAGP) by 340.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,947 shares of the company’s stock after buying an additional 57,944 shares during the period. Stephens Inc. AR’s holdings in Plains Group Holdings, L.P. were worth $970,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PAGP. Morgan Stanley boosted its stake in Plains Group Holdings, L.P. by 17.4% in the third quarter. Morgan Stanley now owns 3,850,469 shares of the company’s stock valued at $49,826,000 after buying an additional 570,096 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Plains Group Holdings, L.P. by 87.7% in the third quarter. Principal Financial Group Inc. now owns 1,319,911 shares of the company’s stock valued at $17,080,000 after buying an additional 616,577 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Plains Group Holdings, L.P. during the third quarter valued at about $380,000. Westpac Banking Corp boosted its stake in Plains Group Holdings, L.P. by 15.2% in the third quarter. Westpac Banking Corp now owns 20,892 shares of the company’s stock valued at $270,000 after buying an additional 2,764 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in Plains Group Holdings, L.P. by 1.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 477,262 shares of the company’s stock valued at $6,176,000 after buying an additional 5,568 shares in the last quarter.

Institutional Ownership by Quarter for Plains Group Holdings, L.P. (NYSE:PAGP)

Plains Group Holdings, L.P. (NYSE:PAGP) traded down 0.48% during trading on Friday, hitting $33.19. 406,480 shares of the stock traded hands. Plains Group Holdings, L.P. has a 52 week low of $6.29 and a 52 week high of $36.09. The stock has a market cap of $3.34 billion, a P/E ratio of 24.95 and a beta of 1.51. The firm’s 50-day moving average is $34.22 and its 200 day moving average is $20.90.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, January 27th. This is a boost from Plains Group Holdings, L.P.’s previous quarterly dividend of $0.21. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.63%. Plains Group Holdings, L.P.’s dividend payout ratio (DPR) is presently 168.59%.

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A number of analysts have weighed in on PAGP shares. Zacks Investment Research raised shares of Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Tuesday, October 18th. Deutsche Bank AG raised shares of Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating and increased their target price for the stock from $13.00 to $15.00 in a report on Monday, October 10th. Morgan Stanley increased their target price on shares of Plains Group Holdings, L.P. from $12.50 to $14.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 4th. Stifel Nicolaus increased their target price on shares of Plains Group Holdings, L.P. from $29.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, November 17th. Finally, Credit Suisse Group reissued a “hold” rating and set a $13.00 target price on shares of Plains Group Holdings, L.P. in a report on Monday, November 7th. Fifteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Plains Group Holdings, L.P. presently has a consensus rating of “Hold” and an average target price of $16.15.

Plains Group Holdings, L.P. Company Profile

Plains GP Holdings, L.P. (PAGP) owns an interest in the general partner and incentive distribution rights (IDRs) of Plains All American Pipeline, L.P (PAA). The Company has no separate operating activities apart from those conducted by PAA. PAA owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products.

5 Day Chart for NYSE:PAGP

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