Plains GP Holdings, L.P. (NYSE:PAGP) Shares Purchased by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC raised its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,925 shares of the pipeline company’s stock after purchasing an additional 1,112 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Plains GP were worth $219,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp increased its position in Plains GP by 17.1% during the third quarter. State Street Corp now owns 640,918 shares of the pipeline company’s stock worth $11,857,000 after buying an additional 93,643 shares during the period. Chickasaw Capital Management LLC increased its holdings in shares of Plains GP by 24.7% in the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock valued at $151,047,000 after acquiring an additional 1,629,008 shares during the period. Vestcor Inc raised its position in Plains GP by 79.1% in the 3rd quarter. Vestcor Inc now owns 78,442 shares of the pipeline company’s stock valued at $1,451,000 after purchasing an additional 34,633 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in Plains GP by 1.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock worth $80,900,000 after purchasing an additional 53,000 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Plains GP during the 3rd quarter worth $4,013,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Up 0.7 %

Shares of NYSE PAGP opened at $21.90 on Thursday. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 25.76 and a beta of 1.58. Plains GP Holdings, L.P. has a 52 week low of $15.78 and a 52 week high of $22.31. The firm has a 50-day moving average price of $19.57 and a 200 day moving average price of $18.98. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP (NYSE:PAGP) last posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.21). The company had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.17 billion. Plains GP had a net margin of 0.33% and a return on equity of 1.12%. During the same quarter in the previous year, the business posted $0.15 earnings per share. Equities research analysts anticipate that Plains GP Holdings, L.P. will post 0.83 EPS for the current fiscal year.

Plains GP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.38 dividend. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 6.94%. Plains GP’s dividend payout ratio is 149.41%.

Analyst Ratings Changes

PAGP has been the subject of a number of research reports. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Friday, January 10th. Raymond James upped their price objective on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $19.00 in a report on Friday, October 25th. Barclays increased their price target on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Finally, StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.60.

Plains GP Profile

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.