Twin City Private Wealth LLC Buys 1,788 Shares of Plains GP Holdings, L.P. $PAGP

by · The Cerbat Gem

Twin City Private Wealth LLC boosted its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP – Free Report) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,227 shares of the pipeline company’s stock after buying an additional 1,788 shares during the period. Twin City Private Wealth LLC’s holdings in Plains GP were worth $529,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Linscomb Wealth Inc. increased its position in Plains GP by 3.4% during the 2nd quarter. Linscomb Wealth Inc. now owns 362,786 shares of the pipeline company’s stock valued at $7,049,000 after buying an additional 11,819 shares in the last quarter. Assetmark Inc. increased its position in Plains GP by 140.8% during the 2nd quarter. Assetmark Inc. now owns 136,694 shares of the pipeline company’s stock valued at $2,656,000 after buying an additional 79,921 shares in the last quarter. Keybank National Association OH increased its position in Plains GP by 23.3% during the 2nd quarter. Keybank National Association OH now owns 40,975 shares of the pipeline company’s stock valued at $796,000 after buying an additional 7,732 shares in the last quarter. Arkadios Wealth Advisors bought a new position in Plains GP during the 2nd quarter valued at approximately $1,462,000. Finally, Ashton Thomas Private Wealth LLC increased its holdings in shares of Plains GP by 14.5% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 35,427 shares of the pipeline company’s stock worth $688,000 after purchasing an additional 4,483 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

PAGP has been the subject of a number of research analyst reports. Barclays reduced their target price on Plains GP from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, October 7th. Zacks Research lowered Plains GP from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Raymond James Financial reduced their target price on Plains GP from $24.00 to $22.00 and set a “strong-buy” rating for the company in a report on Friday, October 24th. Wolfe Research reissued a “peer perform” rating on shares of Plains GP in a report on Friday, July 25th. Finally, Morgan Stanley reduced their target price on Plains GP from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.13.

Check Out Our Latest Report on Plains GP

Plains GP Price Performance

NYSE PAGP opened at $17.27 on Friday. The company has a market capitalization of $3.42 billion, a PE ratio of 32.59 and a beta of 0.68. 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 business’s fifty day moving average is $18.14 and its 200 day moving average is $18.65. Plains GP Holdings, L.P. has a fifty-two week low of $16.60 and a fifty-two week high of $22.31.

Plains GP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.38 per share. The ex-dividend date is Friday, October 31st. This represents a $1.52 annualized dividend and a yield of 8.8%. Plains GP’s payout ratio is 220.29%.

Plains GP Company Profile

(Free Report)

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.

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