Robeco Institutional Asset Management B.V. Trims Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Robeco Institutional Asset Management B.V. cut its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGPGet Rating) by 13.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 103,736 shares of the pipeline company’s stock after selling 15,585 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.05% of Plains GP worth $1,132,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its holdings in shares of Plains GP by 60.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company’s stock valued at $39,000 after purchasing an additional 1,300 shares in the last quarter. Spirit of America Management Corp NY purchased a new position in shares of Plains GP during the 2nd quarter valued at approximately $62,000. Atlas Capital Advisors LLC increased its holdings in shares of Plains GP by 407.9% during the 2nd quarter. Atlas Capital Advisors LLC now owns 7,619 shares of the pipeline company’s stock valued at $79,000 after purchasing an additional 6,119 shares in the last quarter. Gilman Hill Asset Management LLC purchased a new position in shares of Plains GP during the 2nd quarter valued at approximately $103,000. Finally, Pictet Asset Management SA purchased a new position in shares of Plains GP during the 2nd quarter valued at approximately $110,000. 83.68% of the stock is owned by hedge funds and other institutional investors.

Plains GP Stock Performance

Shares of PAGP opened at $12.89 on Friday. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 12.16 and a beta of 1.61. Plains GP Holdings, L.P. has a 52-week low of $9.39 and a 52-week high of $13.41. The stock has a 50 day moving average price of $12.62 and a 200 day moving average price of $11.95. The company has a quick ratio of 0.93, a current ratio of 1.05 and a debt-to-equity ratio of 0.57.

Plains GP (NYSE:PAGPGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The pipeline company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.19. The business had revenue of $14.34 billion during the quarter, compared to the consensus estimate of $14.77 billion. Plains GP had a return on equity of 1.47% and a net margin of 0.36%. Research analysts predict that Plains GP Holdings, L.P. will post 0.93 EPS for the current fiscal year.

Plains GP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Tuesday, January 31st will be issued a $0.2675 dividend. This is an increase from Plains GP’s previous quarterly dividend of $0.22. This represents a $1.07 annualized dividend and a dividend yield of 8.30%. The ex-dividend date is Monday, January 30th. Plains GP’s dividend payout ratio is presently 82.08%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PAGP shares. StockNews.com started coverage on shares of Plains GP in a report on Wednesday, October 12th. They set a “hold” rating for the company. Wells Fargo & Company dropped their price target on shares of Plains GP from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, November 4th. Mizuho lifted their price target on shares of Plains GP from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, November 8th. Citigroup initiated coverage on shares of Plains GP in a research note on Thursday, December 8th. They issued a “buy” rating and a $14.00 price target on the stock. Finally, JPMorgan Chase & Co. cut shares of Plains GP from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $15.00 to $14.00 in a research note on Monday, November 21st. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Plains GP presently has an average rating of “Moderate Buy” and a consensus price target of $14.58.

Plains GP Company Profile

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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.

See Also

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

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