Stifel Financial Corp Boosts Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Stifel Financial Corp grew its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGPFree Report) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 375,280 shares of the pipeline company’s stock after acquiring an additional 7,923 shares during the quarter. Stifel Financial Corp owned about 0.19% of Plains GP worth $5,986,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. increased its position in Plains GP by 88.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,772,217 shares of the pipeline company’s stock worth $60,167,000 after purchasing an additional 1,774,438 shares in the last quarter. Chickasaw Capital Management LLC increased its position in shares of Plains GP by 6.9% in the fourth quarter. Chickasaw Capital Management LLC now owns 6,632,388 shares of the pipeline company’s stock worth $105,787,000 after acquiring an additional 429,179 shares in the last quarter. Cambria Investment Management L.P. raised 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 acquiring an additional 46,844 shares during the period. Walnut Private Equity Partners LLC lifted its holdings in shares of Plains GP by 13.5% during the 4th quarter. Walnut Private Equity Partners LLC now owns 42,000 shares of the pipeline company’s stock valued at $670,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in Plains GP by 55.6% during the 3rd quarter. Schroder Investment Management Group now owns 390,846 shares of the pipeline company’s stock worth $6,300,000 after purchasing an additional 139,701 shares during the period. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PAGP has been the topic of a number of recent research reports. StockNews.com cut Plains GP from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Wells Fargo & Company upped their price target on Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Citigroup lifted their price objective on shares of Plains GP from $17.50 to $18.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. UBS Group upped their target price on shares of Plains GP from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Scotiabank started coverage on shares of Plains GP in a research note on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.64.

View Our Latest Stock Report on PAGP

Plains GP Stock Performance

Shares of Plains GP stock opened at $17.85 on Friday. The firm has a market cap of $3.52 billion, a PE ratio of 20.28 and a beta of 1.54. Plains GP Holdings, L.P. has a 1 year low of $13.78 and a 1 year high of $19.77. The firm’s 50-day simple moving average is $18.43 and its 200-day simple moving average is $17.19. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.88 and a current ratio of 0.97.

Plains GP (NYSE:PAGPGet Free Report) last announced its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05). The firm had revenue of $12 billion for the quarter, compared to analyst estimates of $13.72 billion. Plains GP had a net margin of 0.35% and a return on equity of 1.15%. Equities analysts forecast that Plains GP Holdings, L.P. will post 1.01 earnings per share for the current fiscal year.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.11%. The ex-dividend date was Tuesday, April 30th. Plains GP’s dividend payout ratio (DPR) is presently 144.32%.

Plains GP Company Profile

(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.

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

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