Plains GP Holdings, L.P. (NYSE:PAGP) Shares Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd boosted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 249.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,284 shares of the pipeline company’s stock after acquiring an additional 8,768 shares during the quarter. Plato Investment Management Ltd’s holdings in Plains GP were worth $224,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in Plains GP by 5.2% during the 4th quarter. Raymond James & Associates now owns 109,187 shares of the pipeline company’s stock valued at $1,742,000 after purchasing an additional 5,408 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Plains GP by 4.3% during the 4th quarter. Pacer Advisors Inc. now owns 67,088 shares of the pipeline company’s stock valued at $1,070,000 after purchasing an additional 2,760 shares in the last quarter. International Assets Investment Management LLC bought a new position in Plains GP during the 4th quarter valued at $406,000. Walnut Private Equity Partners LLC boosted its stake in Plains GP by 13.5% during the 4th quarter. Walnut Private Equity Partners LLC now owns 42,000 shares of the pipeline company’s stock valued at $670,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Harbour Trust & Investment Management Co bought a new position in Plains GP during the 4th quarter valued at $245,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Down 0.6 %

Shares of Plains GP stock traded down $0.11 during midday trading on Thursday, hitting $18.99. The company’s stock had a trading volume of 1,922,414 shares, compared to its average volume of 1,917,381. The firm has a market capitalization of $3.75 billion, a P/E ratio of 21.70 and a beta of 1.54. The stock has a 50-day simple moving average of $18.68 and a 200-day simple moving average of $18.01. 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 Holdings, L.P. has a 1-year low of $14.71 and a 1-year high of $20.10.

Plains GP (NYSE:PAGP) last issued its earnings results on Friday, May 3rd. The pipeline company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05). The business had revenue of $12 billion during the quarter, compared to analyst estimates of $13.72 billion. Plains GP had a return on equity of 1.15% and a net margin of 0.35%. As a group, sell-side analysts expect that Plains GP Holdings, L.P. will post 1.04 earnings per share for the current year.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.27 annualized dividend and a dividend yield of 6.69%. Plains GP’s dividend payout ratio is 144.32%.

Analyst Upgrades and Downgrades

PAGP has been the subject of a number of research reports. StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. The Goldman Sachs Group increased their price target on Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Citigroup raised their price objective on Plains GP from $17.50 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Barclays raised their price objective on Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. Finally, Stifel Nicolaus raised their price objective on Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.11.

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.