5,500 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Acquired by General Partner Inc.

General Partner Inc. purchased a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,500 shares of the pipeline company’s stock, valued at approximately $100,000.

A number of other hedge funds have also recently added to or reduced their stakes in PAGP. Chickasaw Capital Management LLC lifted its holdings in shares of Plains GP by 6.9% in the 4th quarter. Chickasaw Capital Management LLC now owns 6,632,388 shares of the pipeline company’s stock valued at $105,787,000 after buying an additional 429,179 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of Plains GP by 58.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 4,645,531 shares of the pipeline company’s stock valued at $74,096,000 after buying an additional 1,721,120 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of Plains GP by 1.8% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,480,000 shares of the pipeline company’s stock valued at $71,456,000 after buying an additional 77,357 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Plains GP by 88.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,772,217 shares of the pipeline company’s stock valued at $60,167,000 after buying an additional 1,774,438 shares during the period. Finally, Blackstone Inc. lifted its holdings in shares of Plains GP by 41.0% in the 3rd quarter. Blackstone Inc. now owns 2,927,098 shares of the pipeline company’s stock valued at $47,185,000 after buying an additional 851,498 shares during the period. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PAGP. StockNews.com cut Plains GP from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Stifel Nicolaus raised their price target on Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley raised their price target on Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. UBS Group raised their price target on Plains GP from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Citigroup lifted their price objective on Plains GP from $17.50 to $18.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.82.

Plains GP Stock Up 1.2 %

Plains GP stock traded up $0.21 during midday trading on Tuesday, hitting $17.84. The stock had a trading volume of 180,351 shares, compared to its average volume of 2,044,688. The company has a current ratio of 0.97, a quick ratio of 0.88 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.52 billion, a P/E ratio of 19.77 and a beta of 1.54. Plains GP Holdings, L.P. has a 12 month low of $13.78 and a 12 month high of $19.77. The business has a fifty day moving average price of $18.28 and a 200 day moving average price of $17.28.

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

Plains GP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.12%. The ex-dividend date of this dividend was Tuesday, April 30th. Plains GP’s dividend payout ratio (DPR) is presently 144.32%.

Plains GP 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.