Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,122,180 shares of the pipeline company’s stock after selling 36,100 shares during the period. Victory Capital Management Inc. owned 0.57% of Plains GP worth $17,899,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in shares of Plains GP by 1.8% during the 4th quarter. Van ECK Associates Corp now owns 60,313 shares of the pipeline company’s stock worth $962,000 after purchasing an additional 1,083 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Plains GP by 17.1% in the fourth quarter. Russell Investments Group Ltd. now owns 68,128 shares of the pipeline company’s stock worth $1,087,000 after acquiring an additional 9,924 shares during the last quarter. Bahl & Gaynor Inc. lifted its position in shares of Plains GP by 4.2% in the fourth quarter. Bahl & Gaynor Inc. now owns 504,436 shares of the pipeline company’s stock valued at $8,046,000 after acquiring an additional 20,382 shares in the last quarter. NBW Capital LLC boosted its stake in shares of Plains GP by 1.5% during the fourth quarter. NBW Capital LLC now owns 311,500 shares of the pipeline company’s stock valued at $4,968,000 after acquiring an additional 4,497 shares during the last quarter. Finally, HF Advisory Group LLC increased its position in Plains GP by 257.9% during the 4th quarter. HF Advisory Group LLC now owns 97,887 shares of the pipeline company’s stock worth $1,561,000 after purchasing an additional 70,540 shares in the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Plains GP Trading Up 0.1 %

Shares of NYSE:PAGP opened at $18.54 on Friday. Plains GP Holdings, L.P. has a 12-month low of $13.09 and a 12-month high of $19.77. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $3.66 billion, a P/E ratio of 21.07 and a beta of 1.53. The firm has a fifty day moving average of $18.24 and a two-hundred day moving average of $16.87.

Plains GP (NYSE:PAGP) last released its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). Plains GP had a net margin of 0.35% and a return on equity of 1.15%. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.88 billion. On average, equities analysts expect that Plains GP Holdings, L.P. will post 1.05 EPS for the current fiscal year.

Plains GP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains GP’s dividend payout ratio (DPR) is 144.32%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PAGP shares. Citigroup lifted their price target on shares of Plains GP from $17.50 to $18.00 and gave the stock a “neutral” rating in a report on Monday. Stifel Nicolaus lifted their target price on shares of Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. UBS Group increased their price target on Plains GP from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. StockNews.com downgraded Plains GP from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Scotiabank assumed coverage on Plains GP in a research report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.64.

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.