Plains GP Holdings, L.P. (NYSE:PAGP) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 6.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,276,398 shares of the pipeline company’s stock after acquiring an additional 80,993 shares during the quarter. Hsbc Holdings PLC owned 0.65% of Plains GP worth $24,025,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. ORG Partners LLC acquired a new position in shares of Plains GP during the second quarter valued at approximately $44,000. Mather Group LLC. purchased a new stake in shares of Plains GP during the first quarter worth approximately $44,000. CWM LLC raised its stake in 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. Hexagon Capital Partners LLC lifted its holdings in 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 in the last quarter. Finally, Unique Wealth Strategies LLC acquired a new stake in Plains GP during the 2nd quarter worth $70,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Trading Down 0.1 %

PAGP opened at $18.92 on Friday. The business’s 50 day moving average price is $18.92 and its 200 day moving average price is $18.54. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.90 and a current ratio of 1.00. The stock has a market capitalization of $3.73 billion, a PE ratio of 21.50 and a beta of 1.53. Plains GP Holdings, L.P. has a one year low of $14.71 and a one year high of $20.10.

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). The business had revenue of $12.93 billion for the quarter, compared to analysts’ expectations 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 prior year, the company posted $0.25 earnings per share. As a group, equities research analysts expect that Plains GP Holdings, L.P. will post 1.24 EPS for the current year.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date was Wednesday, July 31st. Plains GP’s dividend payout ratio (DPR) is 144.32%.

Analyst Ratings Changes

Several research firms have recently weighed in on PAGP. Wolfe Research raised shares of Plains GP to a “hold” rating in a research note on Wednesday. Morgan Stanley boosted their target price on Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.