Plains GP Holdings, L.P. (NYSE:PAGP) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its position in Plains GP Holdings, L.P. (NYSE:PAGPFree Report) by 46.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 918,450 shares of the pipeline company’s stock after acquiring an additional 292,574 shares during the quarter. BNP Paribas Financial Markets owned 0.47% of Plains GP worth $16,762,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAGP. Schroder Investment Management Group raised its position in Plains GP by 55.6% in the third quarter. Schroder Investment Management Group now owns 390,846 shares of the pipeline company’s stock valued at $6,300,000 after purchasing an additional 139,701 shares during the period. Exchange Traded Concepts LLC raised its position in Plains GP by 12.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 259,039 shares of the pipeline company’s stock valued at $4,132,000 after purchasing an additional 29,493 shares during the period. Chickasaw Capital Management LLC raised its position in 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 valued at $105,787,000 after purchasing an additional 429,179 shares during the period. Advisor Resource Council purchased a new position in Plains GP in the fourth quarter valued at about $167,000. Finally, Raymond James & Associates raised its position in Plains GP by 5.2% in the fourth quarter. Raymond James & Associates now owns 109,187 shares of the pipeline company’s stock valued at $1,742,000 after purchasing an additional 5,408 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Up 0.5 %

Shares of Plains GP stock opened at $19.55 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.86 billion, a P/E ratio of 22.10 and a beta of 1.54. Plains GP Holdings, L.P. has a fifty-two week low of $14.71 and a fifty-two week high of $19.94. The business has a 50-day moving average price of $18.27 and a 200 day moving average price of $17.61.

Plains GP (NYSE:PAGPGet Free Report) last issued its earnings results on Friday, May 3rd. The pipeline company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). Plains GP had a net margin of 0.35% and a return on equity of 1.15%. The company had revenue of $12 billion during the quarter, compared to analyst estimates of $13.72 billion. On average, sell-side 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a $0.3175 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.27 dividend on an annualized basis and a yield of 6.50%. Plains GP’s payout ratio is currently 144.32%.

Analysts Set New Price Targets

Several research analysts have commented on PAGP shares. Scotiabank started coverage on Plains GP in a research report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective on the stock. StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Barclays lifted their target price on Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. Wells Fargo & Company lifted their target price on Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Finally, Citigroup lifted their target price on Plains GP from $17.50 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Plains GP has a consensus rating of “Moderate Buy” and an average target price of $19.82.

Read Our Latest Research Report on Plains GP

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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