Headlands Technologies LLC Lowers Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Headlands Technologies LLC trimmed its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 55.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,990 shares of the pipeline company’s stock after selling 8,587 shares during the quarter. Headlands Technologies LLC’s holdings in Plains GP were worth $132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PAGP. Mather Group LLC. acquired a new position in Plains GP during the first quarter worth approximately $44,000. ORG Partners LLC purchased a new position in shares of Plains GP in the 2nd quarter valued at approximately $44,000. CWM LLC grew its stake in shares of Plains GP by 61.0% in the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock valued at $57,000 after purchasing an additional 1,147 shares during the last quarter. Spire Wealth Management grew its stake in shares of Plains GP by 22.0% in the 1st quarter. Spire Wealth Management now owns 3,740 shares of the pipeline company’s stock valued at $68,000 after purchasing an additional 674 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in shares of Plains GP by 35.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,791 shares of the pipeline company’s stock valued at $69,000 after purchasing an additional 1,001 shares during the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Plains GP Stock Performance

NYSE PAGP opened at $18.73 on Monday. Plains GP Holdings, L.P. has a fifty-two week low of $14.71 and a fifty-two week high of $20.10. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 21.28 and a beta of 1.53. The business has a fifty day moving average of $18.97 and a 200-day moving average of $18.49. 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 (NYSE:PAGP) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.11). Plains GP had a return on equity of 1.09% and a net margin of 0.33%. The company had revenue of $12.93 billion during the quarter, compared to analyst estimates of $13.70 billion. During the same period last year, the firm earned $0.25 earnings per share. As a group, analysts predict that Plains GP Holdings, L.P. will post 1.24 earnings per share for the current fiscal year.

Plains GP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a $0.3175 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.27 annualized dividend and a yield of 6.78%. Plains GP’s payout ratio is currently 144.32%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Morgan Stanley lifted their price target on Plains GP from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.11.

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.