Patriot Financial Group Insurance Agency LLC Buys Shares of 10,813 Plains GP Holdings, L.P. (NYSE:PAGP)

Patriot Financial Group Insurance Agency LLC purchased a new stake in Plains GP Holdings, L.P. (NYSE:PAGP) during the third quarter, Holdings Channel.com reports. The firm purchased 10,813 shares of the pipeline company’s stock, valued at approximately $200,000.

Several other large investors have also recently made changes to their positions in PAGP. ORG Partners LLC acquired a new stake in Plains GP in the second quarter valued at approximately $44,000. CWM LLC lifted its holdings in shares of Plains GP by 61.0% during the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock valued at $57,000 after purchasing an additional 1,147 shares during the last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Plains GP in the 2nd quarter worth $70,000. Eastern Bank purchased a new position in Plains GP during the 3rd quarter worth $76,000. Finally, Hexagon Capital Partners LLC increased its position in Plains GP by 22.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the pipeline company’s stock valued at $87,000 after buying an additional 833 shares in the last quarter. 88.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PAGP shares. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a report on Thursday. Wolfe Research raised shares of Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Finally, Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Plains GP currently has an average rating of “Hold” and an average target price of $20.00.

Plains GP Trading Down 0.1 %

NYSE PAGP opened at $17.66 on Thursday. Plains GP Holdings, L.P. has a 1 year low of $14.93 and a 1 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 capitalization of $3.48 billion, a PE ratio of 21.28 and a beta of 1.53. The company has a fifty day moving average of $18.64 and a 200 day moving average of $18.61.

Plains GP (NYSE:PAGP) last issued its 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). The company had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $13.70 billion. Plains GP had a return on equity of 1.09% and a net margin of 0.33%. During the same quarter in the previous year, the company earned $0.25 EPS. Research analysts forecast that Plains GP Holdings, L.P. will post 1.19 earnings per share for the current year.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.19%. The ex-dividend date is Thursday, October 31st. Plains GP’s dividend payout ratio (DPR) is 153.01%.

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.