NewEdge Advisors LLC Buys 681 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

NewEdge Advisors LLC lifted its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,783 shares of the pipeline company’s stock after buying an additional 681 shares during the quarter. NewEdge Advisors LLC’s holdings in Plains GP were worth $1,407,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PAGP. Hexagon Capital Partners LLC lifted its stake in Plains GP by 22.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the pipeline company’s stock worth $87,000 after purchasing an additional 833 shares in the last quarter. Moors & Cabot Inc. boosted its stake in Plains GP by 0.4% during the second quarter. Moors & Cabot Inc. now owns 259,495 shares of the pipeline company’s stock valued at $4,884,000 after buying an additional 959 shares during the period. CWM LLC grew its position in Plains GP by 61.0% during the second quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock worth $57,000 after buying an additional 1,147 shares in the last quarter. Arizona State Retirement System increased its stake in Plains GP by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 55,184 shares of the pipeline company’s stock worth $1,039,000 after acquiring an additional 1,204 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Plains GP by 0.9% in the 1st quarter. California State Teachers Retirement System now owns 176,647 shares of the pipeline company’s stock valued at $3,224,000 after acquiring an additional 1,521 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors.

Plains GP Price Performance

PAGP stock opened at $18.85 on Friday. The firm has a market cap of $3.72 billion, a P/E ratio of 21.42 and a beta of 1.53. The firm’s fifty day moving average is $18.75 and its 200 day moving average is $18.63. Plains GP Holdings, L.P. has a 52 week low of $14.71 and a 52 week high of $20.10. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.90 and a current ratio of 1.00.

Plains GP (NYSE:PAGP) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.20 EPS for the quarter, missing the consensus estimate 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 firm posted $0.25 EPS. Research analysts predict that Plains GP Holdings, L.P. will post 1.24 earnings per share for the current year.

Analyst Ratings Changes

PAGP has been the subject of several recent analyst reports. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Morgan Stanley increased their price target 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. Finally, Wolfe Research upgraded shares of Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Two investment 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. According to MarketBeat, Plains GP currently has an average 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.