Catalyst Capital Advisors LLC boosted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 10.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 732,335 shares of the pipeline company's stock after purchasing an additional 66,690 shares during the quarter. Catalyst Capital Advisors LLC owned 0.37% of Plains GP worth $13,548,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC acquired a new stake in Plains GP during the 2nd quarter worth about $44,000. CWM LLC increased its stake in shares of Plains GP by 61.0% in the second quarter. CWM LLC now owns 3,028 shares of the pipeline company's stock worth $57,000 after purchasing an additional 1,147 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in Plains GP during the 2nd quarter worth about $70,000. Eastern Bank bought a new position in Plains GP in the 3rd quarter valued at $76,000. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Plains GP by 22.0% during the second quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the pipeline company's stock worth $87,000 after purchasing an additional 833 shares in the last quarter. Institutional investors own 88.30% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Wolfe Research upgraded Plains GP to a "hold" rating in a report on Wednesday, September 18th. StockNews.com upgraded Plains GP from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Finally, Morgan Stanley lowered shares of Plains GP from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $20.00.
Check Out Our Latest Research Report on Plains GP
Plains GP Trading Up 0.3 %
PAGP stock traded up $0.06 during midday trading on Tuesday, reaching $17.90. The company's stock had a trading volume of 1,601,826 shares, compared to its average volume of 1,744,691. The business's 50-day simple moving average is $18.53 and its 200-day simple moving average is $18.58. The stock has a market cap of $3.53 billion, a PE ratio of 21.57 and a beta of 1.54. Plains GP Holdings, L.P. has a 52 week low of $14.93 and a 52 week high of $20.10. 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 data on Friday, August 2nd. The pipeline company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.11). The firm had revenue of $12.93 billion for the quarter, compared to the consensus estimate 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 in the prior year, the firm earned $0.25 EPS. As a group, sell-side analysts expect that Plains GP Holdings, L.P. will post 1.2 EPS for the current year.
Plains GP Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued 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 7.09%. Plains GP's dividend payout ratio is currently 153.01%.
Plains GP Profile
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Free Report)
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.
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