Thompson Siegel & Walmsley LLC Buys New Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Thompson Siegel & Walmsley LLC purchased a new position in Plains GP Holdings, L.P. (NYSE:PAGP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 748,540 shares of the pipeline company’s stock, valued at approximately $13,848,000.

A number of other institutional investors also recently modified their holdings of PAGP. Tortoise Capital Advisors L.L.C. increased its position in Plains GP by 6.4% in the 2nd 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 buying an additional 703,158 shares in the last quarter. Chickasaw Capital Management LLC grew its holdings in shares of Plains GP by 3.6% in the second quarter. Chickasaw Capital Management LLC now owns 6,615,106 shares of the pipeline company’s stock valued at $124,496,000 after acquiring an additional 232,644 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of Plains GP by 2.1% in the second quarter. Westwood Holdings Group Inc. now owns 5,393,558 shares of the pipeline company’s stock valued at $101,507,000 after acquiring an additional 113,098 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Plains GP by 1.2% during 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 acquiring an additional 53,000 shares during the last quarter. Finally, Hennessy Advisors Inc. lifted its holdings in Plains GP by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 1,822,200 shares of the pipeline company’s stock worth $34,294,000 after acquiring an additional 279,100 shares during the period. 88.30% of the stock is owned by institutional investors.

Plains GP Stock Performance

NYSE PAGP opened at $18.81 on Thursday. The company’s 50 day simple moving average is $18.44 and its two-hundred day simple moving average is $18.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. 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 capitalization of $3.71 billion, a PE ratio of 21.85 and a beta of 1.54.

Plains GP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 6.75%. The ex-dividend date of this dividend was Thursday, October 31st. Plains GP’s payout ratio is 149.41%.

Wall Street Analyst Weigh In

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

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.