Barings LLC acquired a new stake in Plains GP Holdings LP (NYSE:PAGP) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 10,239 shares of the pipeline company’s stock, valued at approximately $225,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Plains GP by 11.4% in the second quarter. The Manufacturers Life Insurance Company now owns 4,166 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 428 shares during the period. Toronto Dominion Bank lifted its stake in shares of Plains GP by 260.0% in the third quarter. Toronto Dominion Bank now owns 6,110 shares of the pipeline company’s stock valued at $134,000 after purchasing an additional 4,413 shares during the period. Penserra Capital Management LLC lifted its stake in shares of Plains GP by 84.2% in the third quarter. Penserra Capital Management LLC now owns 7,254 shares of the pipeline company’s stock valued at $158,000 after purchasing an additional 3,315 shares during the period. Chicago Partners Investment Group LLC lifted its stake in shares of Plains GP by 126.9% in the third quarter. Chicago Partners Investment Group LLC now owns 8,406 shares of the pipeline company’s stock valued at $184,000 after purchasing an additional 4,702 shares during the period. Finally, Stuart Chaussee & Associates Inc. acquired a new stake in shares of Plains GP in the fourth quarter valued at about $209,000. Hedge funds and other institutional investors own 84.81% of the company’s stock.
PAGP has been the subject of several recent analyst reports. Bank of America reduced their price objective on shares of Plains GP from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Morgan Stanley upgraded shares of Plains GP from an “equal weight” rating to an “overweight” rating and set a $32.00 target price for the company in a research report on Tuesday, February 13th. Robert W. Baird set a $22.00 target price on shares of Plains GP and gave the stock a “hold” rating in a research report on Wednesday, February 7th. Stifel Nicolaus lifted their target price on shares of Plains GP from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, November 8th. Finally, Seaport Global Securities upgraded shares of Plains GP from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Plains GP currently has a consensus rating of “Hold” and a consensus target price of $25.88.
In other news, Director Oscar K. Brown purchased 7,100 shares of the stock in a transaction dated Thursday, February 15th. The stock was acquired at an average cost of $22.51 per share, for a total transaction of $159,821.00. Following the completion of the acquisition, the director now directly owns 7,100 shares in the company, valued at approximately $159,821. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 39.93% of the company’s stock.
Shares of Plains GP Holdings LP (NYSE:PAGP) opened at $21.53 on Friday. The company has a market cap of $6,220.00, a PE ratio of 32.13 and a beta of 1.42. Plains GP Holdings LP has a twelve month low of $18.98 and a twelve month high of $33.66. The company has a current ratio of 1.00, a quick ratio of 0.78 and a debt-to-equity ratio of 0.84.
Plains GP (NYSE:PAGP) last issued its quarterly earnings results on Tuesday, February 6th. The pipeline company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.25). The firm had revenue of $7.61 billion for the quarter, compared to analysts’ expectations of $4.91 billion. Plains GP had a positive return on equity of 0.73% and a negative net margin of 2.79%. research analysts predict that Plains GP Holdings LP will post 1.56 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.57%. Plains GP’s dividend payout ratio (DPR) is presently 179.10%.
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About Plains GP
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.
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