Kestra Advisory Services LLC Purchases 27,636 Shares of Plains GP Holdings, L.P. $PAGP

Kestra Advisory Services LLC boosted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 26.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,753 shares of the pipeline company’s stock after acquiring an additional 27,636 shares during the quarter. Kestra Advisory Services LLC’s holdings in Plains GP were worth $3,223,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. North Star Investment Management Corp. bought a new position in shares of Plains GP in the first quarter valued at approximately $56,000. Larson Financial Group LLC acquired a new position in shares of Plains GP during the third quarter valued at $46,000. O Domhnaill Enterprises Inc. bought a new position in shares of Plains GP in the 1st quarter valued at about $66,000. Lazard Asset Management LLC boosted its stake in Plains GP by 36.5% in the second quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock valued at $58,000 after acquiring an additional 811 shares during the last quarter. Finally, Virtus Advisers LLC increased its holdings in Plains GP by 46.5% in the fourth quarter. Virtus Advisers LLC now owns 5,859 shares of the pipeline company’s stock valued at $112,000 after purchasing an additional 1,859 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Performance

NYSE:PAGP opened at $25.61 on Friday. The stock has a 50 day simple moving average of $24.48 and a 200 day simple moving average of $22.98. The stock has a market cap of $5.07 billion, a P/E ratio of 48.32 and a beta of 0.45. Plains GP Holdings, L.P. has a 1-year low of $16.68 and a 1-year high of $26.15. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

Plains GP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend is Friday, July 31st. Plains GP’s payout ratio is presently 172.16%.

Wall Street Analyst Weigh In

A number of analysts recently commented on PAGP shares. Zacks Research cut shares of Plains GP from a “hold” rating to a “strong sell” rating in a research report on Monday, June 22nd. Citigroup lifted their price objective on shares of Plains GP from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Morgan Stanley upped their target price on Plains GP from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. Truist Financial raised their target price on shares of Plains GP from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays boosted their target price on shares of Plains GP from $21.00 to $23.00 and gave the stock an “underweight” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $23.36.

Plains GP Company 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.