Plains Group Holdings, L.P. (PAGP) Holdings Cut by Alps Advisors Inc.

Alps Advisors Inc. trimmed its stake in shares of Plains Group Holdings, L.P. (NYSE:PAGP) by 35.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,076 shares of the pipeline company’s stock after selling 78,800 shares during the period. Alps Advisors Inc. owned 0.09% of Plains Group Holdings, L.P. worth $3,151,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Chickasaw Capital Management LLC raised its position in shares of Plains Group Holdings, L.P. by 4.4% in the second quarter. Chickasaw Capital Management LLC now owns 7,474,728 shares of the pipeline company’s stock valued at $195,539,000 after buying an additional 314,691 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in shares of Plains Group Holdings, L.P. by 13.0% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,983,497 shares of the pipeline company’s stock valued at $182,688,000 after buying an additional 803,338 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Plains Group Holdings, L.P. by 15.8% in the second quarter. Goldman Sachs Group Inc. now owns 5,132,617 shares of the pipeline company’s stock valued at $134,270,000 after buying an additional 701,120 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Plains Group Holdings, L.P. by 9.4% in the second quarter. Voya Investment Management LLC now owns 2,607,899 shares of the pipeline company’s stock valued at $68,223,000 after buying an additional 224,501 shares during the last quarter. Finally, Atlantic Trust Group LLC raised its position in shares of Plains Group Holdings, L.P. by 14.9% in the second quarter. Atlantic Trust Group LLC now owns 2,223,939 shares of the pipeline company’s stock valued at $58,179,000 after buying an additional 287,807 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on PAGP. ValuEngine cut shares of Plains Group Holdings, L.P. from a “hold” rating to a “sell” rating in a research report on Thursday. Stifel Nicolaus restated a “hold” rating and set a $26.00 price objective (down from $30.00) on shares of Plains Group Holdings, L.P. in a research report on Wednesday, August 9th. Jefferies Group LLC upgraded shares of Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating and cut their price objective for the stock from $27.00 to $24.00 in a research report on Monday, August 21st. UBS AG upgraded shares of Plains Group Holdings, L.P. from an “outperform” rating to a “strong-buy” rating in a research report on Monday, August 28th. Finally, Zacks Investment Research cut shares of Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.18.

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Shares of Plains Group Holdings, L.P. (NYSE:PAGP) traded down $0.10 on Friday, hitting $21.55. 1,528,200 shares of the company’s stock were exchanged, compared to its average volume of 1,959,969. Plains Group Holdings, L.P. has a 1-year low of $18.98 and a 1-year high of $38.46. The firm has a market capitalization of $3,336.87, a PE ratio of 47.89 and a beta of 1.48. The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.79.

Plains Group Holdings, L.P. (NYSE:PAGP) last announced its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.20). Plains Group Holdings, L.P. had a net margin of 0.25% and a return on equity of 0.50%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. Plains Group Holdings, L.P.’s revenue was up 13.6% on a year-over-year basis. equities analysts forecast that Plains Group Holdings, L.P. will post 1.04 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date is Monday, October 30th. Plains Group Holdings, L.P.’s dividend payout ratio is presently 266.67%.

About Plains Group Holdings, L.P.

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.

Institutional Ownership by Quarter for Plains Group Holdings, L.P. (NYSE:PAGP)

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