Pacer Advisors Inc. Has $1.46 Million Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Pacer Advisors Inc. boosted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 2.1% in the second quarter, Holdings Channel reports. The firm owned 77,293 shares of the pipeline company’s stock after purchasing an additional 1,562 shares during the quarter. Pacer Advisors Inc.’s holdings in Plains GP were worth $1,455,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Hsbc Holdings PLC grew its stake in shares of Plains GP by 46.6% in the fourth quarter. Hsbc Holdings PLC now owns 1,232,115 shares of the pipeline company’s stock valued at $19,653,000 after buying an additional 391,773 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Plains GP by 2.2% during the 4th quarter. Stifel Financial Corp now owns 375,280 shares of the pipeline company’s stock worth $5,986,000 after acquiring an additional 7,923 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Plains GP by 2.1% in the 4th quarter. Allianz Asset Management GmbH now owns 1,979,700 shares of the pipeline company’s stock valued at $31,576,000 after purchasing an additional 40,200 shares during the last quarter. Morningstar Investment Services LLC grew its position in Plains GP by 97.8% in the fourth quarter. Morningstar Investment Services LLC now owns 1,452,776 shares of the pipeline company’s stock valued at $23,114,000 after acquiring an additional 718,465 shares during the last quarter. Finally, Waterloo Capital L.P. bought a new stake in shares of Plains GP during the 4th quarter valued at approximately $240,000. Institutional investors own 88.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PAGP shares. Morgan Stanley boosted their price objective on Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Wolfe Research raised shares of Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Finally, StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $20.11.

Plains GP Stock Performance

Shares of PAGP stock opened at $18.47 on Friday. The firm has a 50 day moving average of $18.89 and a 200-day moving average of $18.58. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 20.99 and a beta of 1.53. 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 Holdings, L.P. has a 52 week low of $14.71 and a 52 week high of $20.10.

Plains GP (NYSE:PAGP) last posted its quarterly 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). Plains GP had a return on equity of 1.09% and a net margin of 0.33%. The company had revenue of $12.93 billion during the quarter, compared to analyst estimates of $13.70 billion. During the same quarter in the previous year, the business posted $0.25 earnings per share. On average, equities analysts forecast that Plains GP Holdings, L.P. will post 1.24 earnings per share for the current year.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date was Wednesday, July 31st. Plains GP’s payout ratio is 144.32%.

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.