Bard Financial Services Inc. Sells 55,575 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Bard Financial Services Inc. lowered its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 18.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 238,775 shares of the pipeline company's stock after selling 55,575 shares during the quarter. Bard Financial Services Inc. owned approximately 0.12% of Plains GP worth $4,417,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Cetera Investment Advisers lifted its holdings in Plains GP by 9.5% in the second quarter. Cetera Investment Advisers now owns 169,748 shares of the pipeline company's stock valued at $3,195,000 after buying an additional 14,787 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Plains GP by 4.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,975 shares of the pipeline company's stock valued at $319,000 after purchasing an additional 755 shares during the period. NewEdge Advisors LLC boosted its position in shares of Plains GP by 0.9% in the 2nd quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company's stock worth $1,407,000 after purchasing an additional 681 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Plains GP during the second quarter worth $722,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Plains GP in the second quarter valued at about $5,734,000. Institutional investors and hedge funds own 88.30% of the company's stock.

Plains GP Stock Up 0.7 %

Shares of NYSE:PAGP traded up $0.13 during mid-day trading on Friday, reaching $18.85. 532,908 shares of the stock were exchanged, compared to its average volume of 1,768,573. The stock's 50 day simple moving average is $18.75 and its 200-day simple moving average is $18.63. Plains GP Holdings, L.P. has a one year low of $14.71 and a one year high of $20.10. The company has a market cap of $3.72 billion, a P/E ratio of 21.42 and a beta of 1.53. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.49.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley raised their target price on Plains GP from $19.00 to $20.00 and gave the stock an "overweight" rating in a report on Monday, June 10th. Wolfe Research upgraded shares of Plains GP to a "hold" rating in a report on Wednesday, September 18th. Finally, StockNews.com upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Plains GP has a consensus rating of "Hold" and an average price target of $20.11.

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.