Stifel Financial Corp Increases Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Stifel Financial Corp boosted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 13.0% in the third quarter, HoldingsChannel reports. The firm owned 687,257 shares of the pipeline company’s stock after purchasing an additional 78,845 shares during the period. Stifel Financial Corp’s holdings in Plains GP were worth $12,714,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. SL Advisors LLC lifted its position in shares of Plains GP by 3.3% during the third quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company’s stock worth $394,000 after purchasing an additional 679 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Plains GP by 0.9% during the 2nd quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company’s stock worth $1,407,000 after buying an additional 681 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Plains GP by 1.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock worth $720,000 after acquiring an additional 717 shares in the last quarter. Townsquare Capital LLC increased its holdings in shares of Plains GP by 1.2% in the 3rd quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock valued at $1,110,000 after acquiring an additional 729 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Plains GP by 4.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,975 shares of the pipeline company’s stock valued at $319,000 after acquiring an additional 755 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

Plains GP Stock Up 1.1 %

Shares of PAGP stock opened at $19.29 on Thursday. 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 $18.64 and its 200-day moving average is $18.69. Plains GP Holdings, L.P. has a 1 year low of $14.93 and a 1 year high of $20.10. The stock has a market cap of $3.81 billion, a PE ratio of 22.69 and a beta of 1.57.

Plains GP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.3175 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.58%. Plains GP’s payout ratio is currently 149.41%.

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.