Kayne Anderson Capital Advisors LP Acquires 7,149 Shares of Plains GP Holdings LP (NYSE:PAGP)

Kayne Anderson Capital Advisors LP increased its holdings in Plains GP Holdings LP (NYSE:PAGP) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,223,868 shares of the pipeline company’s stock after purchasing an additional 7,149 shares during the period. Plains GP makes up about 2.5% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 15th largest position. Kayne Anderson Capital Advisors LP owned about 4.33% of Plains GP worth $153,352,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in Plains GP in the third quarter worth $992,000. First Trust Advisors LP increased its position in Plains GP by 19.8% in the third quarter. First Trust Advisors LP now owns 218,567 shares of the pipeline company’s stock worth $4,640,000 after purchasing an additional 36,182 shares during the last quarter. Keybank National Association OH increased its position in Plains GP by 2.3% in the third quarter. Keybank National Association OH now owns 58,944 shares of the pipeline company’s stock worth $1,251,000 after purchasing an additional 1,345 shares during the last quarter. IFM Investors Pty Ltd increased its position in Plains GP by 47.3% in the third quarter. IFM Investors Pty Ltd now owns 12,879 shares of the pipeline company’s stock worth $273,000 after purchasing an additional 4,136 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Plains GP by 46.1% in the third quarter. Russell Investments Group Ltd. now owns 588,230 shares of the pipeline company’s stock worth $12,521,000 after purchasing an additional 185,705 shares during the last quarter. Institutional investors own 90.56% of the company’s stock.

PAGP stock traded down $0.17 during mid-day trading on Friday, reaching $18.43. 2,578,223 shares of the stock traded hands, compared to its average volume of 1,616,919. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.87 and a current ratio of 1.00. Plains GP Holdings LP has a one year low of $18.19 and a one year high of $25.82. The stock has a market capitalization of $3.25 billion, a PE ratio of 8.73 and a beta of 1.16. The business has a 50-day moving average price of $20.20 and a two-hundred day moving average price of $22.75.

Plains GP (NYSE:PAGP) last posted its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.06. Plains GP had a net margin of 1.39% and a return on equity of 3.33%. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $8.15 billion. During the same quarter in the previous year, the business posted $0.70 earnings per share. The business’s revenue was down 10.3% compared to the same quarter last year. On average, equities analysts expect that Plains GP Holdings LP will post 2.38 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 7.81%. The ex-dividend date is Wednesday, October 30th. Plains GP’s dividend payout ratio (DPR) is 68.25%.

Several equities research analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of Plains GP in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $28.00 price target on the stock. Zacks Investment Research upgraded shares of Plains GP from a “sell” rating to a “hold” rating in a research report on Friday. ValuEngine cut shares of Plains GP from a “sell” rating to a “strong sell” rating in a research report on Friday, November 1st. Finally, Barclays set a $24.00 price objective on shares of Plains GP and gave the company a “hold” rating in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $26.43.

Plains GP Profile

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.

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Institutional Ownership by Quarter for Plains GP (NYSE:PAGP)

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