SG Americas Securities LLC Makes New $584,000 Investment in Plains GP Holdings, L.P. (NYSE:PAGP)

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.

Plains GP (NYSE:PAGP) last announced its quarterly earnings data on Tuesday, November 2nd. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.29). Plains GP had a negative return on equity of 0.39% and a negative net margin of 0.12%. The firm had revenue of $10.78 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the prior year, the business posted $0.09 earnings per share. On average, research analysts anticipate that Plains GP Holdings, L.P. will post 0.37 EPS for the current year.

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.

See Also: What is a SEC Filing?

Want to see what other hedge funds are holding PAGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plains GP Holdings, L.P. (NYSE:PAGP).

Institutional Ownership by Quarter for Plains GP (NYSE:PAGP)

Receive News & Ratings for Plains GP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains GP and related companies with MarketBeat.com's FREE daily email newsletter.