Northwestern Mutual Wealth Management Co. Has $319,000 Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Northwestern Mutual Wealth Management Co. raised its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,975 shares of the pipeline company’s stock after acquiring an additional 755 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Plains GP were worth $319,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. boosted its position in shares of Plains GP by 6.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company’s stock valued at $219,572,000 after acquiring an additional 703,158 shares in the last quarter. Chickasaw Capital Management LLC raised its holdings in shares of Plains GP by 3.6% in the 2nd quarter. Chickasaw Capital Management LLC now owns 6,615,106 shares of the pipeline company’s stock worth $124,496,000 after buying an additional 232,644 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Plains GP by 2.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 5,393,558 shares of the pipeline company’s stock worth $101,507,000 after buying an additional 113,098 shares during the period. Allianz Asset Management GmbH boosted its stake in Plains GP by 2.1% in the 4th quarter. Allianz Asset Management GmbH now owns 1,979,700 shares of the pipeline company’s stock valued at $31,576,000 after buying an additional 40,200 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its position in Plains GP by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 1,822,200 shares of the pipeline company’s stock valued at $34,294,000 after acquiring an additional 279,100 shares during the period. Institutional investors own 88.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PAGP. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Wolfe Research raised shares of Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Finally, Morgan Stanley raised their price objective on shares of Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.11.

Plains GP Stock Performance

PAGP stock opened at $19.23 on Wednesday. The company has a 50 day moving average price of $18.90 and a 200 day moving average price of $18.57. Plains GP Holdings, L.P. has a fifty-two week low of $14.71 and a fifty-two week high of $20.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.90. The stock has a market capitalization of $3.79 billion, a PE ratio of 21.85 and a beta of 1.53.

Plains GP (NYSE:PAGP) last released its 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). The firm had revenue of $12.93 billion for the quarter, compared to the consensus estimate of $13.70 billion. Plains GP had a return on equity of 1.09% and a net margin of 0.33%. During the same quarter in the previous year, the firm earned $0.25 EPS. Analysts forecast that Plains GP Holdings, L.P. will post 1.24 EPS for the current year.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 6.60%. The ex-dividend date was Wednesday, July 31st. Plains GP’s dividend payout ratio is 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.