Plains GP Holdings, L.P. (NYSE:PAGP) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 4.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,816 shares of the pipeline company’s stock after purchasing an additional 3,266 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Plains GP were worth $929,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PAGP. Tortoise Capital Advisors L.L.C. raised its holdings in Plains GP by 9,023.6% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 13,244,281 shares of the pipeline company’s stock worth $124,496,000 after purchasing an additional 13,099,116 shares in the last quarter. Blackstone Group Inc. raised its holdings in Plains GP by 23.7% during the first quarter. Blackstone Group Inc. now owns 8,256,312 shares of the pipeline company’s stock worth $77,609,000 after purchasing an additional 1,582,335 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Plains GP by 4,562.3% during the first quarter. Nuveen Asset Management LLC now owns 1,320,002 shares of the pipeline company’s stock worth $12,408,000 after purchasing an additional 1,291,690 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Plains GP by 57.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,478,223 shares of the pipeline company’s stock worth $32,695,000 after purchasing an additional 1,272,162 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Plains GP by 37.1% during the first quarter. Clearbridge Investments LLC now owns 4,029,231 shares of the pipeline company’s stock worth $37,875,000 after purchasing an additional 1,090,470 shares in the last quarter. 86.87% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on PAGP shares. Citigroup raised their target price on shares of Plains GP from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, July 13th. Wells Fargo & Company raised their target price on shares of Plains GP from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. Morgan Stanley upgraded shares of Plains GP from an “equal weight” rating to an “overweight” rating and set a $13.00 target price on the stock in a research report on Friday, July 16th. Zacks Investment Research lowered shares of Plains GP from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 16th. Finally, Raymond James raised their target price on shares of Plains GP from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $12.86.

NYSE:PAGP opened at $10.66 on Friday. The firm’s fifty day moving average price is $10.23 and its 200 day moving average price is $10.42. Plains GP Holdings, L.P. has a 1-year low of $5.55 and a 1-year high of $12.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.92 and a quick ratio of 0.81. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -1,066.00 and a beta of 2.20.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, July 30th were given a $0.18 dividend. The ex-dividend date was Thursday, July 29th. This represents a $0.72 dividend on an annualized basis and a yield of 6.75%. Plains GP’s dividend payout ratio (DPR) is 9.24%.

Plains GP Profile

Plains GP Holdings LP owns and operates midstream energy infrastructure and provides logistics services primarily for crude oil, natural gas liquids and natural gas through its indirect investment in Plains All American Pipeline, L.P. The firm operates through the following segments: Transportation, Facilities and Supply and Logistics.

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

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