SG Americas Securities LLC bought a new position in Plains GP Holdings, L.P. (NYSE:PAGP) in the 3rd quarter, HoldingsChannel reports. The fund bought 54,224 shares of the pipeline company’s stock, valued at approximately $584,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Man Group plc bought a new position in Plains GP in the 2nd quarter worth about $131,000. Y Intercept Hong Kong Ltd bought a new position in shares of Plains GP in the second quarter valued at approximately $134,000. MML Investors Services LLC bought a new position in shares of Plains GP in the second quarter valued at approximately $137,000. IFP Advisors Inc boosted its holdings in shares of Plains GP by 131.2% in the third quarter. IFP Advisors Inc now owns 12,028 shares of the pipeline company’s stock valued at $135,000 after acquiring an additional 6,825 shares in the last quarter. Finally, Bridgefront Capital LLC bought a new position in shares of Plains GP in the second quarter valued at approximately $145,000. Hedge funds and other institutional investors own 84.37% of the company’s stock.
PAGP stock opened at $11.73 on Friday. The company has a 50 day moving average of $10.51 and a two-hundred day moving average of $10.66. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -52.36 and a beta of 2.07. Plains GP Holdings, L.P. has a 12-month low of $8.25 and a 12-month high of $12.95. The company has a quick ratio of 0.78, a current ratio of 0.90 and a debt-to-equity ratio of 0.78.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 14th. Shareholders of record on Monday, January 31st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, January 28th. This represents a $0.72 dividend on an annualized basis and a yield of 6.14%. Plains GP’s dividend payout ratio (DPR) is currently -327.27%.
Several research firms have recently issued reports on PAGP. Barclays began coverage on shares of Plains GP in a report on Monday, November 29th. They issued an “equal weight” rating for the company. Bank of America started coverage on shares of Plains GP in a report on Tuesday, September 28th. They set an “underperform” rating for the company. Zacks Investment Research upgraded shares of Plains GP from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a report on Thursday, January 6th. Seaport Global Securities cut shares of Plains GP from a “buy” rating to a “neutral” rating in a report on Friday, October 29th. Finally, Wolfe Research upgraded shares of Plains GP from a “peer perform” rating to an “outperform” rating in a report on Monday, January 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Plains GP currently has a consensus rating of “Buy” and an average target price of $12.86.
Plains GP Company Profile
Plains GP Holdings LP owns and operates midstream energy infrastructure and provides logistics services primarily for crude oil, natural gas liquids and natural gas through its indirect investment in Plains All American Pipeline, L.P. The firm operates through the following segments: Transportation, Facilities and Supply and Logistics.
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