Raymond James Financial Services Advisors Inc. increased its position in Plains GP Holdings LP (NYSE:PAGP) by 34.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 73,931 shares of the pipeline company’s stock after acquiring an additional 18,758 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Plains GP were worth $1,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of PAGP. MHI Funds LLC bought a new stake in Plains GP during the second quarter valued at about $208,000. Westwood Holdings Group Inc. bought a new stake in Plains GP during the first quarter valued at about $329,000. Candriam Luxembourg S.C.A. bought a new stake in Plains GP during the first quarter valued at about $367,000. Brown Advisory Inc. bought a new stake in Plains GP during the first quarter valued at about $390,000. Finally, Xact Kapitalforvaltning AB grew its holdings in Plains GP by 12.1% during the first quarter. Xact Kapitalforvaltning AB now owns 19,567 shares of the pipeline company’s stock valued at $426,000 after purchasing an additional 2,107 shares during the period. 90.87% of the stock is owned by institutional investors.
Several research firms have issued reports on PAGP. TheStreet raised Plains GP from a “d+” rating to a “c-” rating in a report on Monday, May 7th. US Capital Advisors lowered Plains GP from an “overweight” rating to a “hold” rating in a report on Wednesday, May 9th. Zacks Investment Research raised Plains GP from a “strong sell” rating to a “hold” rating in a report on Saturday, May 12th. Stifel Nicolaus lowered Plains GP from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a report on Wednesday, May 9th. Finally, ValuEngine raised Plains GP from a “sell” rating to a “hold” rating in a report on Friday, June 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Plains GP currently has an average rating of “Buy” and an average target price of $26.44.
NYSE PAGP opened at $26.61 on Tuesday. The stock has a market capitalization of $4.17 billion, a PE ratio of 57.44 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.75 and a quick ratio of 0.63. Plains GP Holdings LP has a twelve month low of $18.98 and a twelve month high of $27.00.
Plains GP (NYSE:PAGP) last released its quarterly earnings data on Tuesday, August 7th. The pipeline company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.71 billion. Plains GP had a positive return on equity of 0.57% and a negative net margin of 2.51%. equities research analysts predict that Plains GP Holdings LP will post 1.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Tuesday, July 31st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date was Monday, July 30th. Plains GP’s dividend payout ratio (DPR) is 184.62%.
Plains GP Company Profile
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.
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