Envestnet Asset Management Inc. Purchases 30,957 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Envestnet Asset Management Inc. increased its position in Plains GP Holdings, L.P. (NYSE:PAGPGet Rating) by 27.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 144,965 shares of the pipeline company’s stock after buying an additional 30,957 shares during the period. Envestnet Asset Management Inc.’s holdings in Plains GP were worth $1,496,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its holdings in Plains GP by 60.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company’s stock worth $39,000 after buying an additional 1,300 shares during the period. Cambridge Trust Co. purchased a new stake in Plains GP in the 1st quarter worth $47,000. Spirit of America Management Corp NY purchased a new stake in Plains GP in the 2nd quarter worth $62,000. Gilman Hill Asset Management LLC purchased a new stake in Plains GP in the 2nd quarter worth $103,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Plains GP in the 1st quarter worth $137,000. Institutional investors own 82.51% of the company’s stock.

Wall Street Analysts Forecast Growth

PAGP has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Plains GP from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, November 4th. UBS Group upped their target price on shares of Plains GP from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Barclays upped their target price on shares of Plains GP from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 16th. StockNews.com started coverage on shares of Plains GP in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Morgan Stanley upped their target price on shares of Plains GP from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, October 20th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.65.

Plains GP Stock Performance

Shares of NYSE:PAGP opened at $13.01 on Monday. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 12.27 and a beta of 1.63. Plains GP Holdings, L.P. has a 12 month low of $9.24 and a 12 month high of $13.38. The firm’s 50-day moving average is $12.23 and its 200 day moving average is $11.65. The company has a current ratio of 1.05, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57.

Plains GP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, October 31st were issued a dividend of $0.2175 per share. The ex-dividend date of this dividend was Friday, October 28th. This represents a $0.87 annualized dividend and a yield of 6.69%. Plains GP’s payout ratio is 82.08%.

Plains GP Company Profile

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Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream energy infrastructure in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the transportation of crude oil and NGLs on pipelines, gathering systems, and trucks.

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Institutional Ownership by Quarter for Plains GP (NYSE:PAGP)

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