Plains GP Holdings, L.P. (NYSE:PAGP) Shares Acquired by SL Advisors LLC

SL Advisors LLC grew its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 3.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,282 shares of the pipeline company’s stock after acquiring an additional 679 shares during the quarter. Plains GP comprises approximately 0.7% of SL Advisors LLC’s investment portfolio, making the stock its 27th largest holding. SL Advisors LLC’s holdings in Plains GP were worth $394,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cetera Investment Advisers lifted its position in Plains GP by 644.7% during the 1st quarter. Cetera Investment Advisers now owns 154,961 shares of the pipeline company’s stock worth $2,828,000 after acquiring an additional 134,153 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Plains GP during the first quarter worth about $1,669,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Plains GP in the first quarter valued at approximately $697,000. Symmetry Investments LP acquired a new position in Plains GP in the 4th quarter worth approximately $1,002,000. Finally, Hennessy Advisors Inc. raised its position in Plains GP by 14.1% during the 1st quarter. Hennessy Advisors Inc. now owns 1,543,100 shares of the pipeline company’s stock worth $28,162,000 after buying an additional 190,700 shares during the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Price Performance

Shares of NYSE PAGP opened at $18.58 on Wednesday. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 21.11 and a beta of 1.53. Plains GP Holdings, L.P. has a 52 week low of $14.93 and a 52 week high of $20.10. The firm has a 50-day simple moving average of $18.74 and a 200-day simple moving average of $18.64. 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 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 business had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $13.70 billion. During the same period last year, the business earned $0.25 earnings per share. On average, equities 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 business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 6.84%. Plains GP’s dividend payout ratio is presently 144.32%.

Analyst Ratings Changes

Several research firms recently issued reports on PAGP. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Wolfe Research upgraded shares of Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.