Raymond James & Associates lowered its stake in shares of Plains GP Holdings (NYSE:PAGP) by 24.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,561 shares of the pipeline company’s stock after selling 11,619 shares during the quarter. Raymond James & Associates’ holdings in Plains GP were worth $803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Talara Capital Management LLC boosted its stake in Plains GP by 0.6% during the fourth quarter. Talara Capital Management LLC now owns 821,554 shares of the pipeline company’s stock worth $18,033,000 after acquiring an additional 5,024 shares in the last quarter. Barings LLC bought a new stake in Plains GP during the fourth quarter worth about $225,000. California Public Employees Retirement System boosted its stake in Plains GP by 15.2% during the fourth quarter. California Public Employees Retirement System now owns 272,092 shares of the pipeline company’s stock worth $5,972,000 after acquiring an additional 35,824 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Plains GP by 65.1% during the fourth quarter. UBS Asset Management Americas Inc. now owns 3,357,606 shares of the pipeline company’s stock worth $73,699,000 after acquiring an additional 1,324,404 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Plains GP during the fourth quarter worth about $475,000. Institutional investors own 84.32% of the company’s stock.
Several research firms recently commented on PAGP. JPMorgan Chase reissued an “overweight” rating and set a $28.00 price objective (up previously from $27.00) on shares of Plains GP in a research note on Tuesday, March 13th. Barclays lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and set a $26.00 price objective on the stock. in a research note on Wednesday, January 17th. ValuEngine lowered shares of Plains GP from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Credit Suisse Group began coverage on shares of Plains GP in a research note on Thursday, January 4th. They set an “outperform” rating and a $25.00 price objective on the stock. Finally, SunTrust Banks raised shares of Plains GP from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday, April 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $25.65.
In related news, Director Oscar K. Brown acquired 7,100 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average price of $22.51 per share, for a total transaction of $159,821.00. Following the completion of the transaction, the director now directly owns 7,100 shares in the company, valued at $159,821. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.80% of the stock is owned by corporate insiders.
Shares of NYSE PAGP opened at $25.02 on Monday. The company has a market capitalization of $3,928.42, a PE ratio of 38.49 and a beta of 1.25. Plains GP Holdings has a 52-week low of $18.98 and a 52-week high of $30.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.73 and a current ratio of 0.88.
Plains GP (NYSE:PAGP) last issued its earnings results on Tuesday, February 6th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.25). The firm had revenue of $7.61 billion during the quarter, compared to the consensus estimate of $4.91 billion. Plains GP had a positive return on equity of 0.73% and a negative net margin of 2.79%. research analysts anticipate that Plains GP Holdings will post 1.49 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st will be given a dividend of $0.30 per share. The ex-dividend date is Monday, April 30th. This represents a $1.20 dividend on an annualized basis and a yield of 4.80%. Plains GP’s dividend payout ratio (DPR) is 184.62%.
Plains GP Company Profile
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.
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