Linscomb Wealth Inc. Buys 50,859 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Linscomb Wealth Inc. boosted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 19.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 313,100 shares of the pipeline company’s stock after buying an additional 50,859 shares during the period. Linscomb Wealth Inc.’s holdings in Plains GP were worth $5,792,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Investment Advisers increased its holdings in Plains GP by 644.7% in the 1st quarter. Cetera Investment Advisers now owns 154,961 shares of the pipeline company’s stock worth $2,828,000 after buying an additional 134,153 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Plains GP in the first quarter worth $1,669,000. Bahl & Gaynor Inc. boosted its holdings in 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 purchasing an additional 417,031 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Plains GP in the second quarter worth about $566,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of Plains GP by 1.2% during the 3rd 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 purchasing an additional 53,000 shares in the last quarter. 88.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PAGP shares. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Morgan Stanley cut Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Wolfe Research upgraded 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.com, the company currently has an average rating of “Hold” and an average price target of $19.88.

Plains GP Trading Up 0.4 %

Shares of PAGP traded up $0.08 during midday trading on Friday, reaching $18.29. The company had a trading volume of 103,340 shares, compared to its average volume of 1,745,638. The firm has a 50 day simple moving average of $18.44 and a 200-day simple moving average of $18.56. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.61 billion, a PE ratio of 21.53 and a beta of 1.54. Plains GP Holdings, L.P. has a 1-year low of $14.93 and a 1-year high of $20.10.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 annualized dividend and a yield of 6.94%. Plains GP’s payout ratio is 149.41%.

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.