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

Requisite Capital Management LLC lessened its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,752 shares of the pipeline company’s stock after selling 640 shares during the quarter. Requisite Capital Management LLC’s holdings in Plains GP were worth $565,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PAGP. State Street Corp grew its position in Plains GP by 17.1% in the 3rd quarter. State Street Corp now owns 640,918 shares of the pipeline company’s stock valued at $11,857,000 after acquiring an additional 93,643 shares in the last quarter. Chickasaw Capital Management LLC boosted its stake in shares of Plains GP by 24.7% in the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock valued at $151,047,000 after purchasing an additional 1,629,008 shares during the period. Vestcor Inc grew its holdings in shares of Plains GP by 79.1% in the third quarter. Vestcor Inc now owns 78,442 shares of the pipeline company’s stock valued at $1,451,000 after purchasing an additional 34,633 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in Plains GP by 1.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock worth $80,900,000 after buying an additional 53,000 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Plains GP during the 3rd quarter worth approximately $4,013,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Trading Down 0.5 %

Shares of Plains GP stock opened at $21.76 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a fifty day simple moving average of $19.45 and a 200-day simple moving average of $18.96. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 25.71 and a beta of 1.58. Plains GP Holdings, L.P. has a 12-month low of $15.78 and a 12-month high of $22.31.

Plains GP (NYSE:PAGP) last released its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.21). Plains GP had a net margin of 0.33% and a return on equity of 1.12%. The company had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.17 billion. During the same quarter in the prior year, the company earned $0.15 EPS. On average, equities analysts forecast that Plains GP Holdings, L.P. will post 0.83 EPS for the current fiscal year.

Plains GP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.38 dividend. This is an increase from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 6.99%. Plains GP’s dividend payout ratio is 149.41%.

Analysts Set New Price Targets

PAGP has been the subject of several research reports. Barclays boosted their price target on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Friday, January 10th. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Finally, Morgan Stanley downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.22.

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.