Golden State Equity Partners Acquires 10,816 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Golden State Equity Partners lifted its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 705.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,349 shares of the pipeline company’s stock after purchasing an additional 10,816 shares during the period. Golden State Equity Partners’ holdings in Plains GP were worth $227,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Chickasaw Capital Management LLC boosted its holdings in Plains GP by 24.7% in the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock valued at $151,047,000 after acquiring an additional 1,629,008 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in Plains GP by 1.2% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock valued at $80,900,000 after acquiring an additional 53,000 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Plains GP by 8.5% in the third quarter. BNP Paribas Financial Markets now owns 1,313,974 shares of the pipeline company’s stock valued at $24,309,000 after acquiring an additional 103,353 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in Plains GP in the third quarter valued at about $13,848,000. Finally, Catalyst Capital Advisors LLC boosted its holdings in Plains GP by 10.0% in the third quarter. Catalyst Capital Advisors LLC now owns 732,335 shares of the pipeline company’s stock valued at $13,548,000 after acquiring an additional 66,690 shares during the last quarter. Institutional investors own 88.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Raymond James increased their target price on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Friday, January 10th. Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Barclays increased their target price on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Finally, StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.60.

Plains GP Stock Up 0.5 %

Shares of Plains GP stock opened at $21.32 on Wednesday. The business’s 50 day simple moving average is $19.77 and its 200 day simple moving average is $19.04. Plains GP Holdings, L.P. has a 52-week low of $15.78 and a 52-week high of $22.31. The firm has a market cap of $4.21 billion, a PE ratio of 25.08 and a beta of 1.58. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Plains GP (NYSE:PAGP) last announced its earnings results on Friday, November 8th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.21). Plains GP had a net margin of 0.33% and a return on equity of 1.12%. The firm had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.17 billion. During the same period in the prior year, the business posted $0.15 EPS. On average, analysts predict that Plains GP Holdings, L.P. will post 0.83 earnings per share for the current fiscal year.

Plains GP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date is Friday, January 31st. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s dividend payout ratio (DPR) is currently 178.82%.

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.