Asset Management One Co. Ltd. Has $3.82 Million Holdings in Plains GP Holdings LP (PAGP)
Asset Management One Co. Ltd. lessened its holdings in shares of Plains GP Holdings LP (NYSE:PAGP) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 174,450 shares of the pipeline company’s stock after selling 2,507 shares during the period. Asset Management One Co. Ltd. owned about 0.11% of Plains GP worth $3,815,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in PAGP. Canyon Capital Advisors LLC acquired a new stake in shares of Plains GP during the 2nd quarter worth approximately $35,731,000. Goldman Sachs Group Inc. boosted its position in shares of Plains GP by 15.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 5,132,617 shares of the pipeline company’s stock worth $134,270,000 after acquiring an additional 701,120 shares in the last quarter. Talara Capital Management LLC boosted its position in Plains GP by 77.5% in the second quarter. Talara Capital Management LLC now owns 1,238,707 shares of the pipeline company’s stock valued at $32,405,000 after buying an additional 541,035 shares in the last quarter. Koch Industries Inc. acquired a new stake in Plains GP in the second quarter valued at approximately $285,000. Finally, Atlantic Trust Group LLC boosted its position in Plains GP by 14.9% in the second quarter. Atlantic Trust Group LLC now owns 2,223,939 shares of the pipeline company’s stock valued at $58,179,000 after buying an additional 287,807 shares in the last quarter. Hedge funds and other institutional investors own 83.05% of the company’s stock.
Several research firms have recently issued reports on PAGP. Raymond James Financial raised shares of Plains GP from an “outperform” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Monday, August 28th. BMO Capital Markets set a $25.00 price target on shares of Plains GP and gave the company a “buy” rating in a research note on Tuesday, October 17th. Barclays reaffirmed a “buy” rating and set a $26.00 price target on shares of Plains GP in a research note on Thursday, October 19th. Mizuho reaffirmed a “buy” rating and set a $27.00 price target on shares of Plains GP in a research note on Friday, October 20th. Finally, Zacks Investment Research raised shares of Plains GP from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $25.75.
Plains GP (NYSE:PAGP) last released its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.20). The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Plains GP had a return on equity of 0.50% and a net margin of 0.25%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. analysts predict that Plains GP Holdings LP will post 0.87 EPS for the current year.
Plains GP Company Profile
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.
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