Hara Capital LLC Acquires Shares of 3,100 Plains GP Holdings, L.P. (NYSE:PAGP)

Hara Capital LLC acquired a new stake in Plains GP Holdings, L.P. (NYSE:PAGP) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,100 shares of the pipeline company’s stock, valued at approximately $57,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PAGP. Tortoise Capital Advisors L.L.C. grew its stake in shares of Plains GP by 6.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company’s stock valued at $219,572,000 after acquiring an additional 703,158 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Plains GP by 13.7% in the first quarter. Westwood Holdings Group Inc. now owns 5,280,460 shares of the pipeline company’s stock valued at $96,368,000 after acquiring an additional 634,929 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Plains GP in the second quarter valued at about $11,442,000. SIR Capital Management L.P. acquired a new position in shares of Plains GP in the second quarter valued at about $8,849,000. Finally, Bahl & Gaynor Inc. grew its stake in shares of Plains GP by 82.7% in the first quarter. Bahl & Gaynor Inc. now owns 921,467 shares of the pipeline company’s stock valued at $16,817,000 after acquiring an additional 417,031 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on PAGP shares. Wolfe Research upgraded shares of Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Morgan Stanley cut 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 research report on Friday, October 25th. Finally, StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.88.

Plains GP Trading Up 2.6 %

PAGP opened at $18.82 on Friday. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 22.67 and a beta of 1.54. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a twelve month low of $14.93 and a twelve month high of $20.10. The company has a 50-day simple moving average of $18.52 and a 200 day simple moving average of $18.58.

Plains GP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.3175 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.75%. Plains GP’s dividend payout ratio (DPR) is currently 153.01%.

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.