Hexagon Capital Partners LLC Buys 1,001 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Hexagon Capital Partners LLC boosted its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 35.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,791 shares of the pipeline company’s stock after buying an additional 1,001 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Plains GP were worth $69,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in shares of Plains GP during the first quarter valued at approximately $44,000. Tucker Asset Management LLC purchased a new stake in shares of Plains GP in the 4th quarter worth $73,000. General Partner Inc. bought a new position in shares of Plains GP during the 1st quarter worth $100,000. Creekmur Asset Management LLC purchased a new position in shares of Plains GP during the fourth quarter valued at $153,000. Finally, Advisor Resource Council bought a new stake in shares of Plains GP in the fourth quarter valued at about $167,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PAGP has been the topic of a number of research reports. Citigroup raised their target price on shares of Plains GP from $17.50 to $18.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Barclays boosted their price objective on shares of Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. StockNews.com cut Plains GP from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Scotiabank assumed coverage on Plains GP in a research report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price target for the company. Finally, The Goldman Sachs Group boosted their target price on shares of Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.82.

Plains GP Price Performance

Shares of Plains GP stock opened at $19.03 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.88. The business has a 50 day simple moving average of $18.20 and a two-hundred day simple moving average of $17.45. The stock has a market capitalization of $3.75 billion, a P/E ratio of 21.63 and a beta of 1.54. Plains GP Holdings, L.P. has a 12 month low of $14.51 and a 12 month high of $19.77.

Plains GP (NYSE:PAGP) last posted its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.21 EPS 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 firm had revenue of $12 billion during the quarter, compared to analyst estimates of $13.72 billion. As a group, analysts predict that Plains GP Holdings, L.P. will post 1.01 EPS for the current fiscal year.

Plains GP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a dividend of $0.3175 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.27 annualized dividend and a yield of 6.67%. Plains GP’s dividend payout ratio is presently 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.