Miller Howard Investments Inc. NY Has $35.67 Million Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Miller Howard Investments Inc. NY lowered its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 1.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,954,425 shares of the pipeline company’s stock after selling 27,979 shares during the period. Miller Howard Investments Inc. NY owned about 0.99% of Plains GP worth $35,668,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. True North Advisors LLC acquired a new stake in Plains GP in the 1st quarter valued at $1,096,000. Mather Group LLC. bought a new position in Plains GP during the 1st quarter valued at about $44,000. General Partner Inc. acquired a new position in Plains GP in the first quarter valued at about $100,000. B. Riley Wealth Advisors Inc. grew its stake in Plains GP by 4.4% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 63,428 shares of the pipeline company’s stock worth $1,012,000 after buying an additional 2,677 shares during the last quarter. Finally, Tucker Asset Management LLC acquired a new stake in shares of Plains GP during the fourth quarter worth approximately $73,000. Institutional investors own 88.30% of the company’s stock.

Plains GP Trading Up 2.5 %

Shares of PAGP traded up $0.45 during trading hours on Monday, reaching $18.34. The stock had a trading volume of 1,085,468 shares, compared to its average volume of 2,024,958. Plains GP Holdings, L.P. has a 52 week low of $13.84 and a 52 week high of $19.77. The firm has a 50-day moving average of $18.18 and a 200 day moving average of $17.35. The company has a market cap of $3.62 billion, a P/E ratio of 20.84 and a beta of 1.54. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 0.49.

Plains GP (NYSE:PAGP) last announced its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). Plains GP had a net margin of 0.35% and a return on equity of 1.15%. The company had revenue of $12 billion during the quarter, compared to the consensus estimate of $13.72 billion. On average, sell-side analysts expect that Plains GP Holdings, L.P. will post 1.01 earnings per share for the current fiscal year.

Plains GP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a $0.3175 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.92%. Plains GP’s dividend payout ratio (DPR) is presently 144.32%.

Wall Street Analysts Forecast Growth

PAGP has been the subject of a number of research reports. Stifel Nicolaus raised their target price on Plains GP from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley boosted their target price on shares of Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Wells Fargo & Company raised their price target on shares of Plains GP from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. The Goldman Sachs Group upped their price objective on Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Finally, Barclays lifted their target price on Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.82.

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.