Starfire Investment Advisers Inc. bought a new stake in shares of Plains GP Holdings LP (NYSE:PAGP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 13,232 shares of the pipeline company’s stock, valued at approximately $290,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Tortoise Capital Advisors L.L.C. boosted its holdings in Plains GP by 9.4% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 7,636,798 shares of the pipeline company’s stock valued at $167,017,000 after acquiring an additional 653,301 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Plains GP by 15.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,132,617 shares of the pipeline company’s stock worth $134,270,000 after buying an additional 701,120 shares during the period. Atlantic Trust Group LLC lifted its holdings in shares of Plains GP by 32.0% in the 3rd quarter. Atlantic Trust Group LLC now owns 2,935,457 shares of the pipeline company’s stock worth $64,199,000 after buying an additional 711,518 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Plains GP by 9.4% in the 2nd quarter. Voya Investment Management LLC now owns 2,607,899 shares of the pipeline company’s stock worth $68,223,000 after buying an additional 224,501 shares during the period. Finally, State Street Corp lifted its holdings in shares of Plains GP by 4.7% in the 2nd quarter. State Street Corp now owns 1,729,564 shares of the pipeline company’s stock worth $45,249,000 after buying an additional 77,866 shares during the period. 83.02% of the stock is currently owned by institutional investors.
Several research firms have recently commented on PAGP. Seaport Global Securities began coverage on Plains GP in a research report on Tuesday, October 10th. They issued a “neutral” rating and a $23.00 price target for the company. Zacks Investment Research raised Plains GP from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Robert W. Baird set a $20.00 target price on Plains GP and gave the company a “hold” rating in a research report on Thursday, October 12th. BidaskClub lowered Plains GP from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 17th. Finally, BMO Capital Markets set a $25.00 price objective on Plains GP and gave the company a “buy” rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.71.
Plains GP Holdings LP (PAGP) traded down $0.64 during mid-day trading on Friday, reaching $20.56. The company’s stock had a trading volume of 2,113,644 shares, compared to its average volume of 1,400,000. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.78 and a current ratio of 1.00. The firm has a market capitalization of $5,940.00, a PE ratio of 46.73 and a beta of 1.42. Plains GP Holdings LP has a one year low of $18.98 and a one year high of $34.63.
Plains GP (NYSE:PAGP) last released its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.20). The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Plains GP had a return on equity of 0.50% and a net margin of 0.25%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share. analysts predict that Plains GP Holdings LP will post 0.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.20 dividend on an annualized basis and a yield of 5.84%. Plains GP’s dividend payout ratio (DPR) is presently 272.73%.
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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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