Pictet Asset Management SA Acquires 4,079 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Pictet Asset Management SA raised its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 20.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,270 shares of the pipeline company’s stock after purchasing an additional 4,079 shares during the period. Pictet Asset Management SA’s holdings in Plains GP were worth $318,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Aigen Investment Management LP boosted its position in Plains GP by 257.7% during the 4th quarter. Aigen Investment Management LP now owns 56,878 shares of the pipeline company’s stock valued at $708,000 after acquiring an additional 40,978 shares in the last quarter. Edge Capital Group LLC boosted its holdings in shares of Plains GP by 34.2% during the 4th quarter. Edge Capital Group LLC now owns 37,709 shares of the pipeline company’s stock valued at $469,000 after buying an additional 9,609 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Plains GP by 4.9% in the 1st quarter. Chicago Partners Investment Group LLC now owns 81,548 shares of the pipeline company’s stock worth $1,130,000 after buying an additional 3,809 shares during the period. California State Teachers Retirement System increased its stake in shares of Plains GP by 1.0% in the 1st quarter. California State Teachers Retirement System now owns 170,677 shares of the pipeline company’s stock worth $2,239,000 after acquiring an additional 1,685 shares in the last quarter. Finally, Ieq Capital LLC purchased a new position in Plains GP during the 4th quarter valued at about $126,000. 84.45% of the stock is currently owned by institutional investors.

Plains GP Price Performance

Shares of PAGP opened at $16.04 on Wednesday. The firm has a fifty day simple moving average of $15.36 and a two-hundred day simple moving average of $14.19. The firm has a market cap of $3.14 billion, a PE ratio of 13.48 and a beta of 1.64. The company has a current ratio of 1.00, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 1-year low of $10.45 and a 1-year high of $16.09.

Plains GP (NYSE:PAGP) last posted its quarterly earnings data on Friday, August 4th. The pipeline company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.11. The company had revenue of $11.60 billion during the quarter, compared to analysts’ expectations of $16.84 billion. Plains GP had a return on equity of 1.59% and a net margin of 0.45%. On average, equities analysts anticipate that Plains GP Holdings, L.P. will post 1.14 EPS for the current year.

Plains GP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were given a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 6.67%. The ex-dividend date of this dividend was Friday, July 28th. Plains GP’s payout ratio is 89.92%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PAGP shares. Mizuho upped their price objective on shares of Plains GP from $17.00 to $19.00 in a report on Wednesday, July 12th. StockNews.com started coverage on Plains GP in a research report on Thursday, August 17th. They set a “hold” rating for the company. Morgan Stanley boosted their target price on Plains GP from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, July 20th. Finally, Raymond James raised their price target on Plains GP from $17.00 to $18.00 and gave the company a “strong-buy” rating in a report on Friday, July 21st. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Plains GP has a consensus rating of “Moderate Buy” and a consensus price target of $16.56.

About Plains GP

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.