Plains GP Holdings, L.P. (NYSE:PAGP) Stake Raised by HF Advisory Group LLC

HF Advisory Group LLC increased its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 257.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,887 shares of the pipeline company’s stock after acquiring an additional 70,540 shares during the period. HF Advisory Group LLC’s holdings in Plains GP were worth $1,561,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Spire Wealth Management raised its stake in shares of Plains GP by 63.2% during the 3rd quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 983 shares in the last quarter. Rational Advisors LLC bought a new position in shares of Plains GP in the 3rd quarter valued at approximately $43,000. Allworth Financial LP bought a new position in shares of Plains GP in the 3rd quarter valued at approximately $48,000. Geneos Wealth Management Inc. raised its stake in shares of Plains GP by 60.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company’s stock valued at $39,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Plains GP by 95.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,475 shares of the pipeline company’s stock valued at $56,000 after acquiring an additional 1,697 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Stock Performance

Shares of NYSE:PAGP traded up $0.43 during trading on Thursday, hitting $18.70. 825,386 shares of the stock were exchanged, compared to its average volume of 2,173,742. Plains GP Holdings, L.P. has a 1-year low of $12.59 and a 1-year high of $19.77. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 17.91 and a beta of 1.55. The company’s fifty day simple moving average is $17.68 and its 200-day simple moving average is $16.56. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 0.98.

Plains GP (NYSE:PAGP) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.06). Plains GP had a return on equity of 1.33% and a net margin of 0.41%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.88 billion. Sell-side analysts expect that Plains GP Holdings, L.P. will post 1.04 EPS for the current fiscal year.

Plains GP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.3175 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 annualized dividend and a dividend yield of 6.79%. Plains GP’s dividend payout ratio (DPR) is presently 124.51%.

Analyst Ratings Changes

PAGP has been the topic of a number of recent analyst reports. Barclays raised their price objective on Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. UBS Group raised their price objective on Plains GP from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Citigroup raised their price objective on Plains GP from $16.50 to $17.50 and gave the company a “neutral” rating in a research note on Friday, March 1st. The Goldman Sachs Group raised their target price on Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, April 12th. Finally, StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.55.

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.