Pacer Advisors Inc. Grows Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Pacer Advisors Inc. boosted its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGPFree Report) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 67,088 shares of the pipeline company’s stock after purchasing an additional 2,760 shares during the period. Pacer Advisors Inc.’s holdings in Plains GP were worth $1,070,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Chickasaw Capital Management LLC boosted its holdings in shares of Plains GP by 6.9% in the 4th quarter. Chickasaw Capital Management LLC now owns 6,632,388 shares of the pipeline company’s stock valued at $105,787,000 after acquiring an additional 429,179 shares during the last quarter. Requisite Capital Management LLC boosted its holdings in shares of Plains GP by 36.1% in the 3rd quarter. Requisite Capital Management LLC now owns 58,783 shares of the pipeline company’s stock valued at $948,000 after acquiring an additional 15,591 shares during the last quarter. Cambria Investment Management L.P. lifted its stake in shares of Plains GP by 7.1% in the 3rd quarter. Cambria Investment Management L.P. now owns 707,543 shares of the pipeline company’s stock valued at $11,406,000 after purchasing an additional 46,844 shares during the period. ProVise Management Group LLC lifted its stake in shares of Plains GP by 13.0% in the 3rd quarter. ProVise Management Group LLC now owns 333,584 shares of the pipeline company’s stock valued at $5,377,000 after purchasing an additional 38,407 shares during the period. Finally, Schroder Investment Management Group raised its position in Plains GP by 55.6% during the third quarter. Schroder Investment Management Group now owns 390,846 shares of the pipeline company’s stock worth $6,300,000 after acquiring an additional 139,701 shares during the period. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Price Performance

Plains GP stock opened at $18.46 on Wednesday. Plains GP Holdings, L.P. has a 52-week low of $12.59 and a 52-week high of $18.52. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 18.10 and a beta of 1.55. The company has a fifty day simple moving average of $17.08 and a 200-day simple moving average of $16.34. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.49.

Plains GP (NYSE:PAGPGet Free Report) last released its earnings results on Friday, February 9th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). Plains GP had a return on equity of 1.33% and a net margin of 0.41%. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.88 billion. On average, equities analysts anticipate that Plains GP Holdings, L.P. will post 1.56 EPS for the current fiscal year.

Plains GP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were issued a $0.3175 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.88%. This is a positive change from Plains GP’s previous quarterly dividend of $0.27. Plains GP’s dividend payout ratio is currently 124.51%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. Citigroup upped their price objective on shares of Plains GP from $16.50 to $17.50 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Plains GP currently has a consensus rating of “Hold” and an average target price of $17.43.

View Our Latest Analysis on PAGP

About Plains GP

(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.

See Also

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

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