HF Advisory Group LLC Purchases 2,906 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

HF Advisory Group LLC grew its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 2.8% during the 3rd quarter, Holdings Channel reports. The firm owned 105,367 shares of the pipeline company’s stock after purchasing an additional 2,906 shares during the period. HF Advisory Group LLC’s holdings in Plains GP were worth $1,949,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PAGP. Cetera Investment Advisers increased its holdings in Plains GP by 644.7% in the first quarter. Cetera Investment Advisers now owns 154,961 shares of the pipeline company’s stock valued at $2,828,000 after purchasing an additional 134,153 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Plains GP in the 1st quarter valued at about $1,669,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Plains GP in the 1st quarter valued at approximately $697,000. Bahl & Gaynor Inc. boosted its stake in Plains GP by 82.7% during the 1st quarter. Bahl & Gaynor Inc. now owns 921,467 shares of the pipeline company’s stock worth $16,817,000 after acquiring an additional 417,031 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Plains GP by 46.7% during the first quarter. BNP Paribas Financial Markets now owns 918,450 shares of the pipeline company’s stock valued at $16,762,000 after purchasing an additional 292,574 shares during the period. Institutional investors own 88.30% of the company’s stock.

Plains GP Stock Performance

Shares of Plains GP stock opened at $17.90 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.90. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 21.57 and a beta of 1.54. The stock’s 50-day moving average is $18.53 and its 200-day moving average is $18.58. Plains GP Holdings, L.P. has a one year low of $14.93 and a one year high of $20.10.

Plains GP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.09%. The ex-dividend date is Thursday, October 31st. Plains GP’s dividend payout ratio (DPR) is currently 153.01%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Wolfe Research upgraded Plains GP to a “hold” rating in a report on Wednesday, September 18th. Finally, StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.00.

Plains GP Company Profile

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.