132,492 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Bought by Sei Investments Co.

Sei Investments Co. bought a new stake in Plains GP Holdings, L.P. (NYSE:PAGP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 132,492 shares of the pipeline company’s stock, valued at approximately $2,494,000.

A number of other large investors have also added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in shares of Plains GP in the 1st quarter worth about $44,000. ORG Partners LLC bought a new position in Plains GP during the second quarter valued at approximately $44,000. CWM LLC raised its stake 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 acquiring an additional 1,147 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Plains GP by 35.9% during the first quarter. Hexagon Capital Partners LLC now owns 3,791 shares of the pipeline company’s stock worth $69,000 after acquiring an additional 1,001 shares in the last quarter. Finally, Unique Wealth Strategies LLC bought a new stake in shares of Plains GP in the 2nd quarter worth approximately $70,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Trading Up 0.7 %

NYSE:PAGP opened at $18.85 on Friday. The company has a 50 day simple moving average of $18.75 and a two-hundred day simple moving average of $18.63. The company has a market cap of $3.72 billion, a PE ratio of 21.42 and a beta of 1.53. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 12 month low of $14.71 and a 12 month high of $20.10.

Plains GP (NYSE:PAGP) last posted its quarterly earnings data 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 firm had revenue of $12.93 billion for the quarter, compared to analysts’ expectations 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. Research analysts forecast that Plains GP Holdings, L.P. will post 1.24 earnings per share for the current year.

Wall Street Analyst Weigh In

PAGP has been the topic of several recent research reports. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Morgan Stanley lifted their price objective on Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, Wolfe Research upgraded Plains GP to a “hold” rating in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.11.

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.