Wells Fargo & Company MN Sells 16,872 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Wells Fargo & Company MN decreased its position in shares of Plains GP Holdings, L.P. (NYSE:PAGPFree Report) by 3.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 472,143 shares of the pipeline company’s stock after selling 16,872 shares during the quarter. Wells Fargo & Company MN owned approximately 0.24% of Plains GP worth $7,531,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management lifted its holdings in Plains GP by 63.2% during the 3rd quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 983 shares in the last quarter. Rational Advisors LLC purchased a new stake in Plains GP during the 3rd quarter worth about $43,000. Headlands Technologies LLC purchased a new stake in Plains GP during the 3rd quarter worth about $63,000. Advisor Resource Council purchased a new stake in Plains GP during the 4th quarter worth about $167,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Plains GP by 14.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,809 shares of the pipeline company’s stock valued at $190,000 after acquiring an additional 1,458 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Stock Performance

Shares of NYSE PAGP opened at $17.85 on Friday. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 20.28 and a beta of 1.54. The company has a current ratio of 0.97, a quick ratio of 0.88 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 1-year low of $13.78 and a 1-year high of $19.77. The stock’s 50-day moving average is $18.43 and its 200 day moving average is $17.17.

Plains GP (NYSE:PAGPGet Free Report) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05). Plains GP had a return on equity of 1.15% and a net margin of 0.35%. The company had revenue of $12 billion for the quarter, compared to the consensus estimate of $13.72 billion. On average, sell-side analysts anticipate that Plains GP Holdings, L.P. will post 1.01 EPS for the current fiscal year.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.3175 per share. The ex-dividend date was Tuesday, April 30th. This represents a $1.27 annualized dividend and a yield of 7.11%. Plains GP’s payout ratio is 144.32%.

Wall Street Analyst Weigh In

Several analysts have weighed in on PAGP shares. Stifel Nicolaus raised their price target on Plains GP from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. The Goldman Sachs Group raised their price target on Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, April 12th. Scotiabank started coverage on Plains GP in a report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price target on the stock. StockNews.com cut Plains GP from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Finally, Barclays raised their price target on Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.64.

Check Out Our Latest Analysis on PAGP

Plains GP 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.

Further Reading

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

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