Plains GP Holdings, L.P. (NYSE:PAGP) Stock Position Lifted by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,373,000 shares of the pipeline company's stock after purchasing an additional 53,000 shares during the quarter. Plains GP accounts for about 6.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 4th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 2.22% of Plains GP worth $80,900,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. raised its position in Plains GP by 6.4% in the second 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 purchasing an additional 703,158 shares during the last quarter. Chickasaw Capital Management LLC raised its position in shares of Plains GP by 3.6% during the second quarter. Chickasaw Capital Management LLC now owns 6,615,106 shares of the pipeline company's stock worth $124,496,000 after acquiring an additional 232,644 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of Plains GP by 2.1% during the second quarter. Westwood Holdings Group Inc. now owns 5,393,558 shares of the pipeline company's stock worth $101,507,000 after acquiring an additional 113,098 shares during the last quarter. Hennessy Advisors Inc. raised its position in shares of Plains GP by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 1,822,200 shares of the pipeline company's stock worth $34,294,000 after acquiring an additional 279,100 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Plains GP by 10.5% during the second quarter. Mackenzie Financial Corp now owns 1,804,713 shares of the pipeline company's stock worth $33,965,000 after acquiring an additional 171,217 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors.

Plains GP Stock Down 0.3 %

Plains GP stock traded down $0.05 during mid-day trading on Tuesday, reaching $18.23. The stock had a trading volume of 558,523 shares, compared to its average volume of 1,736,603. 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 Holdings, L.P. has a fifty-two week low of $14.93 and a fifty-two week high of $20.10. The stock's 50-day simple moving average is $18.74 and its 200-day simple moving average is $18.67. The firm has a market capitalization of $3.60 billion, a PE ratio of 20.77 and a beta of 1.53.

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

Plains GP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.3175 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 6.97%. Plains GP's payout ratio is 144.32%.

Analyst Ratings Changes

PAGP has been the subject of a number of analyst reports. StockNews.com upgraded Plains GP from a "hold" rating to a "buy" rating in a research report on Monday, August 5th. Wolfe Research upgraded Plains GP to a "hold" rating in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $20.11.

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.