Pacer Advisors Inc. Has $1.83 Million Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Pacer Advisors Inc. increased its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 27.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,510 shares of the pipeline company's stock after buying an additional 21,184 shares during the quarter. Pacer Advisors Inc. owned about 0.05% of Plains GP worth $1,829,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PAGP. Sei Investments Co. acquired a new stake in shares of Plains GP during the 2nd quarter worth $2,494,000. Algert Global LLC acquired a new stake in Plains GP during the second quarter worth about $722,000. NewEdge Advisors LLC increased its holdings in Plains GP by 0.9% in the 2nd quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company's stock valued at $1,407,000 after buying an additional 681 shares during the period. Cetera Investment Advisers raised its position in shares of Plains GP by 9.5% in the 2nd 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 in the last quarter. Finally, Walnut Private Equity Partners LLC lifted its holdings in shares of Plains GP by 11.1% during the 3rd quarter. Walnut Private Equity Partners LLC now owns 50,000 shares of the pipeline company's stock worth $925,000 after acquiring an additional 5,000 shares during the period. Institutional investors own 88.30% of the company's stock.

Wall Street Analyst Weigh In

PAGP has been the topic of a number of recent analyst reports. Wolfe Research raised shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research note on Friday, January 10th. StockNews.com raised Plains GP from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Raymond James raised their price objective on Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 28th. Morgan Stanley downgraded Plains GP from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Barclays raised their price target on shares of Plains GP from $18.00 to $19.00 and gave the company an "underweight" rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Plains GP has an average rating of "Hold" and a consensus target price of $20.60.

Plains GP Trading Up 0.4 %

PAGP traded up $0.09 during trading on Wednesday, reaching $21.41. 1,695,615 shares of the company's stock were exchanged, compared to its average volume of 2,093,479. The firm has a fifty day moving average price of $19.82 and a two-hundred day moving average price of $19.05. The stock has a market capitalization of $4.23 billion, a PE ratio of 25.19 and a beta of 1.58. Plains GP Holdings, L.P. has a one year low of $15.78 and a one year high of $22.31. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

Plains GP (NYSE:PAGP - Get Free Report) last posted its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.21). The company had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.17 billion. Plains GP had a net margin of 0.33% and a return on equity of 1.12%. During the same quarter in the previous year, the company earned $0.15 earnings per share. As a group, equities research analysts forecast that Plains GP Holdings, L.P. will post 0.83 earnings per share for the current fiscal year.

Plains GP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.38 dividend. This is a positive change from Plains GP's previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.10%. The ex-dividend date of this dividend is Friday, January 31st. Plains GP's payout ratio is currently 178.82%.

About Plains GP

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.