180 Wealth Advisors LLC acquired a new stake in Plains GP Holdings, L.P. (NYSE:PAGP – Get Rating) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 12,000 shares of the pipeline company’s stock, valued at approximately $126,000.
Several other institutional investors also recently bought and sold shares of PAGP. Energy Income Partners LLC grew its stake in shares of Plains GP by 0.3% during the 4th quarter. Energy Income Partners LLC now owns 12,307,943 shares of the pipeline company’s stock worth $124,803,000 after purchasing an additional 33,247 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of 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 worth $130,898,000 after purchasing an additional 3,318,007 shares during the period. Jennison Associates LLC grew its stake in shares of Plains GP by 96.0% during the 1st quarter. Jennison Associates LLC now owns 3,128,909 shares of the pipeline company’s stock worth $36,139,000 after purchasing an additional 1,532,548 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Plains GP by 31.8% during the 1st quarter. Allianz Asset Management GmbH now owns 3,094,335 shares of the pipeline company’s stock worth $35,740,000 after purchasing an additional 747,435 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Plains GP by 95.7% during the 1st quarter. Renaissance Technologies LLC now owns 2,229,722 shares of the pipeline company’s stock worth $25,753,000 after purchasing an additional 1,090,133 shares during the period. 82.51% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Plains GP
In related news, Director Ellen Desanctis acquired 10,000 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were acquired at an average cost of $11.98 per share, for a total transaction of $119,800.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $119,800. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.62% of the company’s stock.
Plains GP Price Performance
Plains GP (NYSE:PAGP – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The pipeline company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $16.36 billion for the quarter, compared to analysts’ expectations of $13.55 billion. Plains GP had a return on equity of 0.85% and a net margin of 0.21%. Research analysts expect that Plains GP Holdings, L.P. will post 0.88 EPS for the current year.
Plains GP Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were issued a dividend of $0.2175 per share. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.87 annualized dividend and a dividend yield of 7.02%. Plains GP’s payout ratio is currently 150.00%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on PAGP. Barclays upped their price target on shares of Plains GP from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 16th. Bank of America raised shares of Plains GP from an “underperform” rating to a “neutral” rating and set a $12.00 price objective on the stock in a research note on Tuesday, July 19th. Stifel Nicolaus raised shares of Plains GP from a “hold” rating to a “buy” rating and increased their price objective for the company from $14.00 to $16.00 in a research note on Sunday, August 14th. Wolfe Research cut shares of Plains GP from an “outperform” rating to a “market perform” rating in a research note on Monday, August 1st. Finally, UBS Group increased their price objective on shares of Plains GP from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $14.50.
Plains GP Profile
Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream energy infrastructure in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the transportation of crude oil and NGLs on pipelines, gathering systems, and trucks.
- Get a free copy of the StockNews.com research report on Plains GP (PAGP)
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