NBW Capital LLC Sells 31,117 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

NBW Capital LLC decreased its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 10.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 267,168 shares of the pipeline company's stock after selling 31,117 shares during the period. NBW Capital LLC owned approximately 0.14% of Plains GP worth $5,028,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Westwood Holdings Group Inc. lifted its holdings in shares of Plains GP by 58.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 4,645,531 shares of the pipeline company's stock worth $74,096,000 after buying an additional 1,721,120 shares in the last quarter. Morningstar Investment Services LLC lifted its position in Plains GP by 97.8% in the 4th quarter. Morningstar Investment Services LLC now owns 1,452,776 shares of the pipeline company's stock valued at $23,114,000 after acquiring an additional 718,465 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Plains GP by 6.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company's stock valued at $219,572,000 after buying an additional 703,158 shares during the period. Acadian Asset Management LLC purchased a new position in Plains GP during the second quarter valued at $11,442,000. Finally, SIR Capital Management L.P. purchased a new position in shares of Plains GP in the second quarter valued at about $8,849,000. Institutional investors and hedge funds own 88.30% of the company's stock.

Analysts Set New Price Targets

PAGP has been the subject of several recent analyst reports. Wolfe Research upgraded Plains GP to a "hold" rating in a research report on Wednesday, September 18th. Morgan Stanley raised their price objective on Plains GP from $19.00 to $20.00 and gave the company an "overweight" rating in a report on Monday, June 10th. Finally, StockNews.com upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $20.11.

Plains GP Stock Performance

PAGP traded down $0.06 during trading hours on Wednesday, reaching $19.17. The company's stock had a trading volume of 741,727 shares, compared to its average volume of 1,787,560. Plains GP Holdings, L.P. has a 52 week low of $14.71 and a 52 week high of $20.10. The firm has a market cap of $3.78 billion, a PE ratio of 21.78 and a beta of 1.53. The company's 50-day moving average is $18.90 and its 200-day moving average is $18.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.90 and a current ratio of 1.00.

Plains GP (NYSE:PAGP - Get Free Report) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.11). Plains GP had a net margin of 0.33% and a return on equity of 1.09%. The firm had revenue of $12.93 billion during the quarter, compared to analyst estimates of $13.70 billion. During the same quarter in the prior year, the business earned $0.25 earnings per share. On average, equities analysts forecast that Plains GP Holdings, L.P. will post 1.24 EPS for the current year.

Plains GP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.3175 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.27 annualized dividend and a dividend yield of 6.62%. Plains GP's dividend payout ratio is presently 144.32%.

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.