Recurrent Investment Advisors LLC Has $51.04 Million Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Recurrent Investment Advisors LLC reduced its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 0.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,754,572 shares of the pipeline company’s stock after selling 13,997 shares during the period. Plains GP comprises 5.0% of Recurrent Investment Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Recurrent Investment Advisors LLC owned approximately 1.39% of Plains GP worth $51,040,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAGP. California State Teachers Retirement System grew its position in shares of Plains GP by 0.9% during the 1st quarter. California State Teachers Retirement System now owns 176,647 shares of the pipeline company’s stock valued at $3,224,000 after acquiring an additional 1,521 shares during the period. Tidal Investments LLC bought a new position in Plains GP in the 1st quarter worth approximately $264,000. Cetera Investment Advisers boosted its holdings in Plains GP by 644.7% in the 1st quarter. Cetera Investment Advisers now owns 154,961 shares of the pipeline company’s stock worth $2,828,000 after buying an additional 134,153 shares during the period. CWM LLC boosted its holdings in Plains GP by 61.0% in the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock worth $57,000 after buying an additional 1,147 shares during the period. Finally, Csenge Advisory Group boosted its holdings in Plains GP by 10.4% in the 2nd quarter. Csenge Advisory Group now owns 19,620 shares of the pipeline company’s stock worth $369,000 after buying an additional 1,848 shares during the period. 88.30% of the stock is owned by institutional investors.

Plains GP Stock Performance

NYSE PAGP opened at $19.57 on Thursday. Plains GP Holdings, L.P. has a 1 year low of $14.93 and a 1 year high of $20.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The stock has a market capitalization of $3.86 billion, a PE ratio of 23.45 and a beta of 1.57. The company’s 50 day simple moving average is $18.54 and its two-hundred day simple moving average is $18.65.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 6.49%. The ex-dividend date of this dividend was Thursday, October 31st. Plains GP’s dividend payout ratio (DPR) is currently 149.41%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wolfe Research raised shares of Plains GP to a “hold” rating in a report on Wednesday, September 18th. Morgan Stanley downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.88.

About Plains GP

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.