ProShare Advisors LLC Sells 1,512 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

ProShare Advisors LLC reduced its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,410 shares of the pipeline company’s stock after selling 1,512 shares during the quarter. ProShare Advisors LLC’s holdings in Plains GP were worth $290,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PAGP. Mather Group LLC. acquired a new stake in Plains GP during the 1st quarter worth approximately $44,000. ORG Partners LLC acquired a new stake in shares of Plains GP during the second quarter worth $44,000. CWM LLC lifted its holdings in shares of Plains GP by 61.0% during the second quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock worth $57,000 after buying an additional 1,147 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Plains GP by 35.9% in the first quarter. Hexagon Capital Partners LLC now owns 3,791 shares of the pipeline company’s stock valued at $69,000 after acquiring an additional 1,001 shares during the period. Finally, Unique Wealth Strategies LLC acquired a new position in shares of Plains GP in the second quarter valued at about $70,000. Institutional investors own 88.30% of the company’s stock.

Plains GP Price Performance

Shares of NYSE:PAGP opened at $18.72 on Friday. Plains GP Holdings, L.P. has a one year low of $14.71 and a one year 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 price-to-earnings ratio of 21.27 and a beta of 1.53. The firm has a 50 day simple moving average of $18.76 and a 200 day simple moving average of $18.62.

Plains GP (NYSE:PAGP) last announced 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 net margin of 0.33% and a return on equity of 1.09%. The firm had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $13.70 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. Research analysts predict that Plains GP Holdings, L.P. will post 1.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on PAGP. Morgan Stanley lifted their price target on shares of Plains GP from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Wolfe Research raised shares of Plains GP to a “hold” rating in a 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 investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.11.

Plains GP 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.