Exchange Traded Concepts LLC Grows Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Exchange Traded Concepts LLC boosted its position in shares of Plains GP Holdings, L.P. (NYSE:PAGPFree Report) by 12.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 259,039 shares of the pipeline company’s stock after purchasing an additional 29,493 shares during the quarter. Exchange Traded Concepts LLC owned about 0.13% of Plains GP worth $4,132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its position in Plains GP by 41.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,333,168 shares of the pipeline company’s stock valued at $130,898,000 after acquiring an additional 3,318,007 shares in the last quarter. Chickasaw Capital Management LLC boosted its position in shares of Plains GP by 21.1% in the 3rd quarter. Chickasaw Capital Management LLC now owns 6,203,209 shares of the pipeline company’s stock worth $99,996,000 after purchasing an additional 1,080,388 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Plains GP by 43.7% in the 3rd quarter. Jennison Associates LLC now owns 4,958,406 shares of the pipeline company’s stock worth $79,930,000 after purchasing an additional 1,506,884 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its stake in Plains GP by 12.4% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,871,231 shares of the pipeline company’s stock worth $78,524,000 after acquiring an additional 539,000 shares during the last quarter. Finally, Morgan Stanley raised its stake in Plains GP by 19.9% in the 3rd quarter. Morgan Stanley now owns 3,484,972 shares of the pipeline company’s stock worth $56,178,000 after acquiring an additional 578,708 shares during the last quarter. Institutional investors own 84.45% of the company’s stock.

Plains GP Trading Up 1.2 %

Shares of PAGP stock opened at $17.43 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.87. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 17.09 and a beta of 1.55. The stock has a 50 day simple moving average of $16.73 and a 200-day simple moving average of $16.17. Plains GP Holdings, L.P. has a 1-year low of $11.79 and a 1-year high of $17.63.

Plains GP (NYSE:PAGPGet Free Report) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.06). The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.88 billion. Plains GP had a net margin of 0.41% and a return on equity of 1.33%. On average, equities research analysts expect that Plains GP Holdings, L.P. will post 1.56 EPS for the current fiscal year.

Plains GP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were issued a $0.3175 dividend. This is a boost from Plains GP’s previous quarterly dividend of $0.27. This represents a $1.27 annualized dividend and a yield of 7.29%. The ex-dividend date was Tuesday, January 30th. Plains GP’s dividend payout ratio is presently 124.51%.

Analyst Ratings Changes

PAGP has been the subject of a number of research analyst reports. Citigroup raised their target price on Plains GP from $16.50 to $17.50 and gave the stock a “neutral” rating in a research note on Friday, March 1st. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research note on Monday, March 4th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.43.

Get Our Latest Analysis on PAGP

Plains GP Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Plains GP (NYSE:PAGP)

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