Tortoise Capital Advisors L.L.C. Has $219.57 Million Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Tortoise Capital Advisors L.L.C. lifted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 6.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,666,947 shares of the pipeline company’s stock after buying an additional 703,158 shares during the period. Plains GP comprises about 2.9% of Tortoise Capital Advisors L.L.C.’s investment portfolio, making the stock its 11th largest holding. Tortoise Capital Advisors L.L.C. owned 0.06% of Plains GP worth $219,572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PAGP. Westwood Holdings Group Inc. boosted its position in shares of Plains GP by 58.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 4,645,531 shares of the pipeline company’s stock worth $74,096,000 after buying an additional 1,721,120 shares during the period. Morningstar Investment Services LLC boosted its position in shares of Plains GP by 97.8% during the fourth quarter. Morningstar Investment Services LLC now owns 1,452,776 shares of the pipeline company’s stock worth $23,114,000 after buying an additional 718,465 shares during the period. Bahl & Gaynor Inc. boosted its position in shares of Plains GP by 82.7% during the first quarter. Bahl & Gaynor Inc. now owns 921,467 shares of the pipeline company’s stock worth $16,817,000 after buying an additional 417,031 shares during the period. Hsbc Holdings PLC boosted its position in shares of Plains GP by 46.6% during the fourth quarter. Hsbc Holdings PLC now owns 1,232,115 shares of the pipeline company’s stock worth $19,653,000 after buying an additional 391,773 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Plains GP by 150.1% during the fourth quarter. BNP Paribas Financial Markets now owns 625,876 shares of the pipeline company’s stock worth $9,983,000 after buying an additional 375,588 shares during the period. 88.30% of the stock is owned by institutional investors and hedge funds.

Plains GP Price Performance

NYSE:PAGP opened at $18.65 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average price is $19.08 and its two-hundred day moving average price is $18.42. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 21.19 and a beta of 1.53. Plains GP Holdings, L.P. has a 12-month low of $14.71 and a 12-month high of $20.10.

Plains GP (NYSE:PAGP) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.11). The business 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 in the prior year, the company earned $0.25 EPS. On average, analysts anticipate that Plains GP Holdings, L.P. will post 1.24 earnings per share for the current year.

Plains GP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.3175 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.27 annualized dividend and a yield of 6.81%. Plains GP’s dividend payout ratio is 144.32%.

Wall Street Analysts Forecast Growth

PAGP has been the subject of several recent research reports. Morgan Stanley upped their price objective on Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.11.

About Plains GP

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.