B. Riley Wealth Advisors Inc. Sells 7,361 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

B. Riley Wealth Advisors Inc. cut its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 12.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,390 shares of the pipeline company’s stock after selling 7,361 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Plains GP were worth $1,005,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PAGP. Cetera Investment Advisers lifted its stake in shares of Plains GP by 644.7% in the 1st quarter. Cetera Investment Advisers now owns 154,961 shares of the pipeline company’s stock valued at $2,828,000 after purchasing an additional 134,153 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Plains GP in the first quarter worth about $1,669,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Plains GP during the 1st quarter valued at about $697,000. Symmetry Investments LP acquired a new position in shares of Plains GP during the 4th quarter valued at about $1,002,000. Finally, Hennessy Advisors Inc. raised its stake in shares of Plains GP by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 1,543,100 shares of the pipeline company’s stock valued at $28,162,000 after acquiring an additional 190,700 shares in the last quarter. 88.30% of the stock is owned by institutional investors.

Plains GP Price Performance

Shares of Plains GP stock opened at $18.72 on Friday. The firm has a fifty day moving average price of $18.76 and a two-hundred day moving average price of $18.62. Plains GP Holdings, L.P. has a fifty-two week low of $14.71 and a fifty-two week high of $20.10. 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 has a market cap of $3.69 billion, a PE ratio of 21.27 and a beta of 1.53.

Plains GP (NYSE:PAGP) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share 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 firm had revenue of $12.93 billion for the quarter, compared to analyst estimates of $13.70 billion. During the same period last year, the business earned $0.25 earnings per share. Analysts expect that Plains GP Holdings, L.P. will post 1.24 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on PAGP shares. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Morgan Stanley raised their target price on shares of Plains GP from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, Wolfe Research upgraded shares of Plains GP to a “hold” rating in a 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 given a buy rating to the company’s stock. Based on data from MarketBeat, Plains GP currently has an average rating of “Hold” 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.