Pin Oak Investment Advisors Inc. Has $1.53 Million Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Pin Oak Investment Advisors Inc. grew its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 15.6% in the third quarter, HoldingsChannel reports. The fund owned 82,744 shares of the pipeline company’s stock after acquiring an additional 11,175 shares during the period. Plains GP makes up 1.4% of Pin Oak Investment Advisors Inc.’s portfolio, making the stock its 16th largest position. Pin Oak Investment Advisors Inc.’s holdings in Plains GP were worth $1,530,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PAGP. ORG Partners LLC bought a new stake in shares of Plains GP during the 2nd quarter worth approximately $44,000. CWM LLC raised its stake in Plains GP by 61.0% in the second quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock valued at $57,000 after buying an additional 1,147 shares during the period. Hara Capital LLC acquired a new stake in shares of Plains GP in the third quarter valued at approximately $57,000. Unique Wealth Strategies LLC acquired a new position in shares of Plains GP during the 2nd quarter worth approximately $70,000. Finally, Eastern Bank bought a new stake in Plains GP in the 3rd quarter valued at $76,000. 88.30% of the stock is owned by institutional investors.

Plains GP Stock Performance

Shares of Plains GP stock opened at $19.47 on Thursday. The company has a 50 day moving average of $18.48 and a 200-day moving average of $18.59. The company has a market cap of $3.84 billion, a PE ratio of 22.91 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. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.3175 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.52%. Plains GP’s payout ratio is currently 149.41%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PAGP shares. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Morgan Stanley downgraded Plains GP from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Wolfe Research upgraded Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus 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.