Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 0.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,049,230 shares of the pipeline company’s stock after selling 8,130 shares during the period. Victory Capital Management Inc. owned 0.53% of Plains GP worth $19,747,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PAGP. Westwood Holdings Group Inc. boosted its stake in shares of Plains GP by 58.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 4,645,531 shares of the pipeline company’s stock worth $74,096,000 after buying an additional 1,721,120 shares during the period. Morningstar Investment Services LLC lifted its position in Plains GP by 97.8% during the 4th quarter. Morningstar Investment Services LLC now owns 1,452,776 shares of the pipeline company’s stock worth $23,114,000 after acquiring an additional 718,465 shares during the period. Bahl & Gaynor Inc. lifted its position in Plains GP by 82.7% during the 1st quarter. Bahl & Gaynor Inc. now owns 921,467 shares of the pipeline company’s stock worth $16,817,000 after acquiring an additional 417,031 shares during the period. Hsbc Holdings PLC grew its stake in shares of Plains GP by 46.6% in the 4th quarter. Hsbc Holdings PLC now owns 1,232,115 shares of the pipeline company’s stock valued at $19,653,000 after purchasing an additional 391,773 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Plains GP by 150.1% in the fourth quarter. BNP Paribas Financial Markets now owns 625,876 shares of the pipeline company’s stock valued at $9,983,000 after purchasing an additional 375,588 shares during the period. 88.30% of the stock is owned by institutional investors and hedge funds.

Plains GP Stock Up 0.3 %

PAGP stock opened at $18.43 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.90. The company’s 50 day simple moving average is $18.99 and its 200-day simple moving average is $18.46. Plains GP Holdings, L.P. has a 12 month low of $14.71 and a 12 month high of $20.10. The firm has a market capitalization of $3.64 billion, a PE ratio of 20.94 and a beta of 1.53.

Plains GP (NYSE:PAGP) last announced its earnings results 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 company had revenue of $12.93 billion for 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 quarter last year, the company posted $0.25 EPS. Equities analysts expect that Plains GP Holdings, L.P. will post 1.24 earnings per share for the current fiscal year.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.3175 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.27 annualized dividend and a yield of 6.89%. Plains GP’s payout ratio is currently 144.32%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley upped their price objective on shares of Plains GP from $19.00 to $20.00 and gave the stock 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 report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.