Tucker Asset Management LLC Invests $73,000 in Plains GP Holdings, L.P. (NYSE:PAGP)

Tucker Asset Management LLC acquired a new position in Plains GP Holdings, L.P. (NYSE:PAGP) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,582 shares of the pipeline company’s stock, valued at approximately $73,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Swiss National Bank grew its holdings in shares of Plains GP by 1.0% in the 3rd quarter. Swiss National Bank now owns 427,434 shares of the pipeline company’s stock worth $6,890,000 after acquiring an additional 4,100 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Plains GP by 14.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,809 shares of the pipeline company’s stock valued at $190,000 after buying an additional 1,458 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Plains GP during the third quarter valued at $201,000. Envestnet Asset Management Inc. grew its holdings in shares of Plains GP by 90.2% during the third quarter. Envestnet Asset Management Inc. now owns 252,440 shares of the pipeline company’s stock valued at $4,069,000 after buying an additional 119,728 shares in the last quarter. Finally, Mirabella Financial Services LLP purchased a new position in shares of Plains GP during the third quarter valued at $1,379,000. Institutional investors own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

PAGP has been the topic of a number of research analyst reports. Scotiabank initiated coverage on Plains GP in a report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price target on the stock. StockNews.com downgraded Plains GP from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. UBS Group boosted their target price on Plains GP from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Wells Fargo & Company boosted their target price on Plains GP from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Finally, The Goldman Sachs Group boosted their target price on Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.82.

Plains GP Stock Performance

Plains GP stock traded down $0.24 during trading hours on Friday, hitting $17.40. The stock had a trading volume of 1,025,845 shares, compared to its average volume of 1,222,771. The company has a 50-day moving average of $18.32 and a two-hundred day moving average of $17.27. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. The company has a market cap of $3.43 billion, a PE ratio of 19.77 and a beta of 1.54. Plains GP Holdings, L.P. has a fifty-two week low of $13.78 and a fifty-two week high of $19.77.

Plains GP (NYSE:PAGP) last released its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.05). Plains GP had a net margin of 0.35% and a return on equity of 1.15%. The company had revenue of $12 billion during the quarter, compared to the consensus estimate of $13.72 billion. On average, equities research analysts anticipate that Plains GP Holdings, L.P. will post 1.01 EPS for the current fiscal year.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.3175 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $1.27 annualized dividend and a dividend yield of 7.30%. Plains GP’s dividend payout ratio is currently 144.32%.

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.