Moors & Cabot Inc. Raises Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Moors & Cabot Inc. lifted its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 259,495 shares of the pipeline company’s stock after acquiring an additional 959 shares during the quarter. Moors & Cabot Inc. owned 0.13% of Plains GP worth $4,884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of PAGP. Tortoise Capital Advisors L.L.C. lifted its stake in Plains GP by 6.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company’s stock worth $219,572,000 after acquiring an additional 703,158 shares during the last quarter. Chickasaw Capital Management LLC grew its stake in shares of Plains GP by 3.6% during the second quarter. Chickasaw Capital Management LLC now owns 6,615,106 shares of the pipeline company’s stock worth $124,496,000 after purchasing an additional 232,644 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in Plains GP by 13.7% in the first quarter. Westwood Holdings Group Inc. now owns 5,280,460 shares of the pipeline company’s stock valued at $96,368,000 after buying an additional 634,929 shares during the last quarter. UBS Group AG raised its stake in Plains GP by 14.7% in the fourth quarter. UBS Group AG now owns 2,889,579 shares of the pipeline company’s stock valued at $46,089,000 after buying an additional 370,857 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Plains GP by 2.1% during the 4th quarter. Allianz Asset Management GmbH now owns 1,979,700 shares of the pipeline company’s stock worth $31,576,000 after buying an additional 40,200 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PAGP shares. Morgan Stanley increased their price objective on Plains GP from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.11.

Plains GP Trading Up 0.9 %

PAGP opened at $18.90 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 52 week low of $14.71 and a 52 week high of $20.10. The business’s 50 day moving average is $18.96 and its two-hundred day moving average is $18.50. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 21.48 and a beta of 1.53.

Plains GP (NYSE:PAGP) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.11). Plains GP had a net margin of 0.33% and a return on equity of 1.09%. The business had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $13.70 billion. During the same quarter last year, the company earned $0.25 EPS. On average, research analysts predict that Plains GP Holdings, L.P. will post 1.24 EPS for the current year.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend was Wednesday, July 31st. Plains GP’s dividend payout ratio is presently 144.32%.

Plains GP Company 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.