Leisure Capital Management Makes New $931,000 Investment in Plains GP Holdings, L.P. (NYSE:PAGP)

Leisure Capital Management bought a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 50,674 shares of the pipeline company's stock, valued at approximately $931,000.

A number of other institutional investors have also made changes to their positions in the business. Golden State Equity Partners boosted its stake in Plains GP by 705.5% in the 4th quarter. Golden State Equity Partners now owns 12,349 shares of the pipeline company's stock valued at $227,000 after purchasing an additional 10,816 shares during the period. Chicago Partners Investment Group LLC boosted its stake in Plains GP by 4.1% in the 4th quarter. Chicago Partners Investment Group LLC now owns 178,634 shares of the pipeline company's stock valued at $3,560,000 after purchasing an additional 7,105 shares during the period. Custom Index Systems LLC bought a new stake in Plains GP in the 4th quarter valued at $265,000. Patriot Financial Group Insurance Agency LLC boosted its stake in Plains GP by 10.3% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 11,925 shares of the pipeline company's stock valued at $219,000 after purchasing an additional 1,112 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Plains GP by 27.0% in the 4th quarter. Pacer Advisors Inc. now owns 99,510 shares of the pipeline company's stock valued at $1,829,000 after purchasing an additional 21,184 shares during the period. 88.30% of the stock is owned by institutional investors and hedge funds.

Plains GP Price Performance

Shares of Plains GP stock traded down $0.29 during trading on Thursday, reaching $21.12. 2,461,084 shares of the company's stock were exchanged, compared to its average volume of 2,108,041. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP Holdings, L.P. has a 1-year low of $15.78 and a 1-year high of $22.31. The company has a market cap of $4.17 billion, a P/E ratio of 24.85 and a beta of 1.58. The firm's 50-day moving average price is $19.86 and its 200 day moving average price is $19.07.

Plains GP (NYSE:PAGP - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.21). Plains GP had a return on equity of 1.12% and a net margin of 0.33%. The business had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.17 billion. During the same period last year, the firm posted $0.15 EPS. As a group, research analysts anticipate that Plains GP Holdings, L.P. will post 0.83 earnings per share for the current year.

Plains GP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.20%. This is a boost from Plains GP's previous quarterly dividend of $0.32. Plains GP's payout ratio is 178.82%.

Analysts Set New Price Targets

Several analysts recently issued reports on PAGP shares. StockNews.com upgraded Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Wolfe Research upgraded Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research note on Friday, January 10th. Wells Fargo & Company downgraded Plains GP from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Raymond James upped their target price on Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Barclays upped their target price on Plains GP from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Plains GP currently has an average rating of "Hold" and a consensus target price of $20.60.

Plains GP Profile

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.