Angeles Wealth Management LLC Boosts Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Angeles Wealth Management LLC lifted its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 58.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 62,989 shares of the pipeline company’s stock after acquiring an additional 23,340 shares during the period. Angeles Wealth Management LLC’s holdings in Plains GP were worth $1,165,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Plains GP during the 1st quarter worth $697,000. Allspring Global Investments Holdings LLC boosted its stake in Plains GP by 3,286.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,350 shares of the pipeline company’s stock worth $408,000 after purchasing an additional 21,690 shares during the period. BNP Paribas Financial Markets boosted its stake in Plains GP by 46.7% during the 1st quarter. BNP Paribas Financial Markets now owns 918,450 shares of the pipeline company’s stock worth $16,762,000 after purchasing an additional 292,574 shares during the period. SG Americas Securities LLC boosted its stake in Plains GP by 128.6% during the 1st quarter. SG Americas Securities LLC now owns 50,001 shares of the pipeline company’s stock worth $913,000 after purchasing an additional 28,124 shares during the period. Finally, PFG Advisors acquired a new stake in Plains GP during the 1st quarter worth $212,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Price Performance

Shares of NYSE PAGP traded up $0.13 during midday trading on Friday, hitting $17.33. The company had a trading volume of 2,446,040 shares, compared to its average volume of 1,369,658. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a twelve month low of $14.93 and a twelve month high of $20.10. The business has a 50-day simple moving average of $18.58 and a two-hundred day simple moving average of $18.59. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 20.88 and a beta of 1.54.

Plains GP (NYSE:PAGP) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.11). Plains GP had a net margin of 0.33% and a return on equity of 1.09%. The company had revenue of $12.93 billion during the quarter, compared to analyst estimates of $13.70 billion. During the same quarter last year, the business earned $0.25 EPS. Equities research analysts anticipate that Plains GP Holdings, L.P. will post 1.2 earnings per share for the current year.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.33%. The ex-dividend date is Thursday, October 31st. Plains GP’s dividend payout ratio (DPR) is 153.01%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Wolfe Research upgraded shares of Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Finally, StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.00.

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.