Algert Global LLC Takes Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Algert Global LLC acquired a new position in Plains GP Holdings, L.P. (NYSE:PAGP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 38,339 shares of the pipeline company’s stock, valued at approximately $722,000.

Several other large investors also recently added to or reduced their stakes in PAGP. Tortoise Capital Advisors L.L.C. increased its position in 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 buying an additional 703,158 shares in the last quarter. Chickasaw Capital Management LLC increased its holdings in 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 acquiring an additional 232,644 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in 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 acquiring an additional 113,098 shares during the period. Hennessy Advisors Inc. lifted its holdings in Plains GP by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 1,822,200 shares of the pipeline company’s stock valued at $34,294,000 after purchasing an additional 279,100 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Plains GP by 10.5% in the second quarter. Mackenzie Financial Corp now owns 1,804,713 shares of the pipeline company’s stock worth $33,965,000 after purchasing an additional 171,217 shares during the period. 88.30% of the stock is currently owned by institutional investors.

Plains GP Price Performance

Shares of Plains GP stock opened at $18.85 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 12 month low of $14.71 and a 12 month high of $20.10. The stock has a 50 day moving average of $18.75 and a 200 day moving average of $18.63. The firm has a market cap of $3.72 billion, a PE ratio of 21.42 and a beta of 1.53.

Plains GP (NYSE:PAGP) last posted 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 business had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $13.70 billion. Plains GP had a net margin of 0.33% and a return on equity of 1.09%. During the same period last year, the business posted $0.25 earnings per share. On average, research analysts expect that Plains GP Holdings, L.P. will post 1.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Plains GP 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.