Kesler Norman & Wride LLC bought a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 28,287 shares of the pipeline company's stock, valued at approximately $523,000.
Several other hedge funds and other institutional investors have also modified their holdings of PAGP. Symmetry Investments LP bought a new position in shares of Plains GP during the 4th quarter worth approximately $1,002,000. Tortoise Index Solutions LLC raised its position in Plains GP by 13.1% in the 4th quarter. Tortoise Index Solutions LLC now owns 259,669 shares of the pipeline company's stock valued at $4,142,000 after purchasing an additional 30,123 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in Plains GP by 2.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 144,039 shares of the pipeline company's stock valued at $2,378,000 after purchasing an additional 3,329 shares during the last quarter. Creekmur Asset Management LLC bought a new position in Plains GP in the 4th quarter valued at $153,000. Finally, Tucker Asset Management LLC bought a new position in Plains GP in the 4th quarter valued at $73,000. Institutional investors own 88.30% of the company's stock.
Several brokerages have issued reports on PAGP. Wolfe Research upgraded Plains GP to a "hold" rating in a research report on Wednesday, September 18th. StockNews.com raised Plains GP from a "hold" rating to a "buy" rating in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $20.11.
Get Our Latest Report on Plains GP
NYSE:PAGP opened at $18.58 on Wednesday. Plains GP Holdings, L.P. has a 1 year low of $14.93 and a 1 year high of $20.10. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 21.11 and a beta of 1.53. The stock has a 50-day moving average price of $18.74 and a two-hundred day moving average price of $18.64.
Plains GP (NYSE:PAGP - Get Free Report) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.11). The firm had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $13.70 billion. Plains GP had a net margin of 0.33% and a return on equity of 1.09%. During the same quarter last year, the firm earned $0.25 earnings per share. As a group, equities analysts expect that Plains GP Holdings, L.P. will post 1.24 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.3175 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.84%. Plains GP's dividend payout ratio (DPR) is 144.32%.
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.
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