Plains GP Holdings, L.P. (NYSE:PAGP) Shares Acquired by SL Advisors LLC

SL Advisors LLC boosted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 3.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,282 shares of the pipeline company’s stock after acquiring an additional 679 shares during the period. Plains GP accounts for about 0.7% of SL Advisors LLC’s portfolio, making the stock its 27th largest holding. SL Advisors LLC’s holdings in Plains GP were worth $394,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Kesler Norman & Wride LLC acquired a new stake in shares of Plains GP during the third quarter valued at about $523,000. Walnut Private Equity Partners LLC increased its holdings in Plains GP by 11.1% in the 3rd quarter. Walnut Private Equity Partners LLC now owns 50,000 shares of the pipeline company’s stock valued at $925,000 after purchasing an additional 5,000 shares during the last quarter. Cetera Investment Advisers raised its position in Plains GP by 9.5% in the second quarter. Cetera Investment Advisers now owns 169,748 shares of the pipeline company’s stock valued at $3,195,000 after purchasing an additional 14,787 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Plains GP by 4.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,975 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 755 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in Plains GP by 0.9% during the second quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company’s stock worth $1,407,000 after purchasing an additional 681 shares in the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PAGP. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Wolfe Research raised Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.11.

Plains GP Price Performance

Shares of NYSE PAGP opened at $18.58 on Wednesday. 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 $3.66 billion, a price-to-earnings ratio of 21.11 and a beta of 1.53. The stock’s 50-day moving average is $18.74 and its two-hundred day moving average is $18.64. Plains GP Holdings, L.P. has a 1-year low of $14.93 and a 1-year high of $20.10.

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 analysts’ expectations of $13.70 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. Analysts forecast that Plains GP Holdings, L.P. will post 1.24 EPS for the current fiscal year.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.3175 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.84%. Plains GP’s payout ratio is 144.32%.

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.