Plains GP Holdings, L.P. $PAGP Shares Acquired by Osaic Holdings Inc.

Osaic Holdings Inc. lifted its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 75.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,320 shares of the pipeline company’s stock after purchasing an additional 125,169 shares during the period. Osaic Holdings Inc. owned about 0.15% of Plains GP worth $5,661,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its position in Plains GP by 2.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,117,959 shares of the pipeline company’s stock worth $196,592,000 after acquiring an additional 247,365 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Plains GP by 17.9% during the 1st quarter. BNP Paribas Financial Markets now owns 1,580,488 shares of the pipeline company’s stock worth $33,759,000 after purchasing an additional 239,723 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Plains GP by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 5,220,898 shares of the pipeline company’s stock worth $111,518,000 after purchasing an additional 29,911 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of Plains GP by 56.9% in the first quarter. Raymond James Financial Inc. now owns 445,000 shares of the pipeline company’s stock valued at $9,505,000 after purchasing an additional 161,349 shares during the period. Finally, Abel Hall LLC acquired a new position in Plains GP in the second quarter valued at $295,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Trading Up 0.4%

NYSE PAGP opened at $18.77 on Tuesday. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 35.42 and a beta of 0.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP Holdings, L.P. has a one year low of $16.60 and a one year high of $22.31. The company’s 50 day moving average price is $17.99 and its 200 day moving average price is $18.63.

Plains GP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were issued a dividend of $0.38 per share. The ex-dividend date was Friday, October 31st. This represents a $1.52 annualized dividend and a dividend yield of 8.1%. Plains GP’s payout ratio is presently 163.44%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target on Plains GP from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 18th. Morgan Stanley raised their target price on shares of Plains GP from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Zacks Research raised shares of Plains GP from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 9th. Raymond James Financial decreased their price target on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a report on Friday, October 24th. Finally, Barclays lowered their price objective on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Plains GP currently has an average rating of “Moderate Buy” and an average target price of $20.43.

Plains GP Profile

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.