Wealth Enhancement Advisory Services LLC Has $720,000 Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Wealth Enhancement Advisory Services LLC grew its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 1.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 38,898 shares of the pipeline company’s stock after acquiring an additional 717 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Plains GP were worth $720,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cetera Investment Advisers raised its position in Plains GP by 644.7% in the first 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 in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Plains GP in the 1st quarter worth approximately $1,669,000. Bahl & Gaynor Inc. lifted its position in shares of Plains GP by 82.7% during the 1st quarter. Bahl & Gaynor Inc. now owns 921,467 shares of the pipeline company’s stock worth $16,817,000 after buying an additional 417,031 shares during the period. Bank of New York Mellon Corp bought a new stake in Plains GP in the second quarter valued at $566,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in 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 worth $80,900,000 after acquiring an additional 53,000 shares in the last quarter. 88.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on PAGP. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Wolfe Research upgraded shares of Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Finally, Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.88.

Plains GP Trading Up 2.5 %

Shares of NYSE PAGP opened at $18.35 on Thursday. Plains GP Holdings, L.P. has a 1-year low of $14.93 and a 1-year high of $20.10. The company has a 50-day moving average of $18.52 and a two-hundred day moving average of $18.58. The company has a market cap of $3.62 billion, a PE ratio of 22.11 and a beta of 1.54. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.49.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 6.92%. The ex-dividend date is Thursday, October 31st. Plains GP’s dividend payout ratio (DPR) is presently 153.01%.

About Plains GP

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.