Continuum Advisory LLC Has $127,000 Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Continuum Advisory LLC raised its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 10.0% in the third quarter, Holdings Channel.com reports. The firm owned 6,990 shares of the pipeline company’s stock after buying an additional 637 shares during the period. Continuum Advisory LLC’s holdings in Plains GP were worth $127,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAGP. Tortoise Capital Advisors L.L.C. lifted its holdings 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 purchasing an additional 703,158 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in Plains GP by 2.1% during the 2nd 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 boosted its holdings in 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 worth $80,900,000 after acquiring an additional 53,000 shares during the last quarter. Hennessy Advisors Inc. grew its stake in shares of Plains GP by 18.1% in the 2nd 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 in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Plains GP by 10.5% in the second quarter. Mackenzie Financial Corp now owns 1,804,713 shares of the pipeline company’s stock valued at $33,965,000 after purchasing an additional 171,217 shares during the last quarter. 88.30% of the stock is owned by institutional investors.

Plains GP Trading Up 1.1 %

Shares of PAGP stock opened at $19.29 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.81 billion, a P/E ratio of 22.69 and a beta of 1.57. The company has a 50 day moving average of $18.64 and a 200-day moving average of $18.69. Plains GP Holdings, L.P. has a 12-month low of $14.93 and a 12-month 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 given a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date was Thursday, October 31st. Plains GP’s dividend payout ratio is currently 149.41%.

Wall Street Analysts Forecast Growth

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

Plains GP Company 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.