Plains GP Holdings, L.P. $PAGP Position Raised by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC lifted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 16.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 800,863 shares of the pipeline company’s stock after acquiring an additional 115,020 shares during the period. Plains GP accounts for 1.3% of Turtle Creek Wealth Advisors LLC’s portfolio, making the stock its 15th biggest holding. Turtle Creek Wealth Advisors LLC owned about 0.40% of Plains GP worth $14,608,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PAGP. Wealth Enhancement Advisory Services LLC grew its position in Plains GP by 1.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 49,827 shares of the pipeline company’s stock worth $889,000 after purchasing an additional 936 shares during the last quarter. Quantum Portfolio Management LLC raised its holdings in shares of Plains GP by 54.2% during the third quarter. Quantum Portfolio Management LLC now owns 18,737 shares of the pipeline company’s stock valued at $342,000 after buying an additional 6,585 shares during the last quarter. Tred Avon Family Wealth LLC acquired a new position in shares of Plains GP during the third quarter worth approximately $182,000. Maryland State Retirement & Pension System boosted its position in shares of Plains GP by 2.9% during the third quarter. Maryland State Retirement & Pension System now owns 183,303 shares of the pipeline company’s stock worth $3,343,000 after buying an additional 5,099 shares during the period. Finally, Csenge Advisory Group grew its holdings in Plains GP by 194.4% in the 3rd quarter. Csenge Advisory Group now owns 70,207 shares of the pipeline company’s stock worth $1,281,000 after buying an additional 46,359 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PAGP has been the topic of several recent analyst reports. Raymond James Financial cut their target price on Plains GP from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 24th. Barclays cut their price objective on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 7th. Zacks Research raised shares of Plains GP from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Finally, Morgan Stanley increased their target price on shares of Plains GP from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.17.

Plains GP Stock Up 1.9%

PAGP opened at $20.55 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The company has a market capitalization of $4.07 billion, a PE ratio of 38.77 and a beta of 0.56. The stock’s fifty day moving average is $18.85 and its 200-day moving average is $18.68. Plains GP Holdings, L.P. has a one year low of $16.60 and a one year high of $22.31.

Plains GP Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be given a $0.4175 dividend. The ex-dividend date is Friday, January 30th. Plains GP’s payout ratio is 179.57%.

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.