Custom Index Systems LLC Invests $265,000 in Plains GP Holdings, L.P. (NYSE:PAGP)

Custom Index Systems LLC acquired a new stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,438 shares of the pipeline company's stock, valued at approximately $265,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hara Capital LLC acquired a new position in Plains GP during the third quarter worth $57,000. Eastern Bank acquired a new position in Plains GP during the 3rd quarter worth $76,000. Continuum Advisory LLC grew its holdings in Plains GP by 10.0% during the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company's stock worth $127,000 after acquiring an additional 637 shares in the last quarter. Insigneo Advisory Services LLC acquired a new stake in Plains GP in the third quarter valued at $188,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Plains GP during the 3rd quarter worth about $200,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Price Performance

NYSE PAGP traded up $0.14 on Wednesday, reaching $21.46. 797,154 shares of the stock traded hands, compared to its average volume of 2,048,811. The firm's fifty day simple moving average is $19.82 and its 200 day simple moving average is $19.05. Plains GP Holdings, L.P. has a 12 month low of $15.78 and a 12 month high of $22.31. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 25.22 and a beta of 1.58. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

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

Plains GP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given 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 7.08%. This is a boost from Plains GP's previous quarterly dividend of $0.32. Plains GP's dividend payout ratio (DPR) is 178.82%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PAGP. Raymond James lifted their target price on Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 28th. Barclays upped their price objective on Plains GP from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Thursday, January 16th. Morgan Stanley lowered Plains GP from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Wells Fargo & Company lowered shares of Plains GP from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Wolfe Research upgraded Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $20.60.

Plains GP Company 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.