Sagefield Capital LP Grows Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Sagefield Capital LP grew its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 109.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,413 shares of the pipeline company’s stock after purchasing an additional 10,676 shares during the quarter. Sagefield Capital LP’s holdings in Plains GP were worth $384,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Westwood Holdings Group Inc. lifted its position in Plains GP by 58.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 4,645,531 shares of the pipeline company’s stock worth $74,096,000 after buying an additional 1,721,120 shares during the period. Morningstar Investment Services LLC increased its stake in shares of Plains GP by 97.8% during the 4th quarter. Morningstar Investment Services LLC now owns 1,452,776 shares of the pipeline company’s stock valued at $23,114,000 after acquiring an additional 718,465 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in shares of Plains GP by 6.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company’s stock worth $219,572,000 after acquiring an additional 703,158 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Plains GP in the second quarter valued at approximately $11,442,000. Finally, SIR Capital Management L.P. purchased a new stake in Plains GP in the second quarter valued at approximately $8,849,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Price Performance

Shares of NYSE PAGP opened at $19.20 on Tuesday. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 21.82 and a beta of 1.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.90. Plains GP Holdings, L.P. has a 1-year low of $14.71 and a 1-year high of $20.10. The business has a 50-day moving average of $18.91 and a 200-day moving average of $18.56.

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 analysts’ expectations of $13.70 billion. During the same quarter in the prior year, the company earned $0.25 EPS. On average, equities analysts anticipate that Plains GP Holdings, L.P. will post 1.24 EPS for the current fiscal year.

Plains GP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 6.61%. The ex-dividend date of this dividend was Wednesday, July 31st. Plains GP’s dividend payout ratio (DPR) is 144.32%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PAGP shares. Wolfe Research upgraded shares of Plains GP to a “hold” rating in a report on Wednesday, September 18th. Morgan Stanley lifted their target price on Plains GP from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, 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, two have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Plains GP presently has a consensus rating of “Hold” 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.