Pin Oak Investment Advisors Inc. Buys 11,175 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Pin Oak Investment Advisors Inc. increased its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 15.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,744 shares of the pipeline company’s stock after purchasing an additional 11,175 shares during the quarter. Plains GP comprises about 1.4% of Pin Oak Investment Advisors Inc.’s portfolio, making the stock its 16th biggest position. Pin Oak Investment Advisors Inc.’s holdings in Plains GP were worth $1,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cetera Investment Advisers raised its holdings in Plains GP by 644.7% during the 1st quarter. Cetera Investment Advisers now owns 154,961 shares of the pipeline company’s stock worth $2,828,000 after purchasing an additional 134,153 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Plains GP during the 1st quarter worth approximately $1,669,000. Bank of New York Mellon Corp bought a new stake in shares of Plains GP during the second quarter worth approximately $566,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Plains GP by 1.2% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock valued at $80,900,000 after buying an additional 53,000 shares during the period. Finally, Kesler Norman & Wride LLC bought a new position in Plains GP in the third quarter valued at approximately $523,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Plains GP Price Performance

NYSE PAGP opened at $19.47 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 stock has a market cap of $3.84 billion, a price-to-earnings ratio of 22.91 and a beta of 1.54. The business has a 50 day simple moving average of $18.48 and a 200 day simple moving average of $18.59. Plains GP Holdings, L.P. has a 52-week low of $14.93 and a 52-week high of $20.10.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a dividend of $0.3175 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.52%. Plains GP’s payout ratio is 149.41%.

Plains GP 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.