Algert Global LLC Takes Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Algert Global LLC acquired a new stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 38,339 shares of the pipeline company's stock, valued at approximately $722,000.

Several other institutional investors also recently made changes to their positions in PAGP. Mather Group LLC. purchased a new stake in Plains GP during the 1st quarter worth $44,000. ORG Partners LLC purchased a new stake in Plains GP during the 2nd quarter worth $44,000. CWM LLC boosted its position in Plains GP by 61.0% during the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company's stock worth $57,000 after purchasing an additional 1,147 shares during the period. Hexagon Capital Partners LLC boosted its position in Plains GP by 35.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 3,791 shares of the pipeline company's stock worth $69,000 after purchasing an additional 1,001 shares during the period. Finally, Unique Wealth Strategies LLC purchased a new stake in Plains GP during the 2nd quarter worth $70,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Plains GP from $19.00 to $20.00 and gave the company an "overweight" rating in a research report on Monday, June 10th. StockNews.com raised shares of Plains GP from a "hold" rating to a "buy" rating in a research report on Monday, August 5th. Finally, Wolfe Research upgraded shares of Plains GP to a "hold" rating in a research note on Wednesday, September 18th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $20.11.

Plains GP Stock Up 0.7 %

Shares of Plains GP stock traded up $0.13 during trading on Friday, reaching $18.85. The company had a trading volume of 532,908 shares, compared to its average volume of 1,212,456. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 22.25 and a beta of 1.53. Plains GP Holdings, L.P. has a fifty-two week low of $14.71 and a fifty-two week high of $20.10. The firm's fifty day moving average is $18.75 and its 200-day moving average is $18.64. 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 released its quarterly earnings data 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). The business had revenue of $12.93 billion for the quarter, compared to analyst estimates of $13.70 billion. Plains GP had a return on equity of 1.09% and a net margin of 0.33%. During the same quarter last year, the company earned $0.25 EPS. On average, analysts anticipate that Plains GP Holdings, L.P. will post 1.24 EPS for the current year.

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.