Traders Purchase High Volume of Plains GP Put Options (PAGP)

Plains GP Holdings LP (NYSE:PAGP) saw unusually large options trading activity on Friday. Investors purchased 1,016 put options on the stock. This represents an increase of 937% compared to the average daily volume of 98 put options.

Several research analysts recently issued reports on PAGP shares. BidaskClub lowered shares of Plains GP from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. ValuEngine upgraded shares of Plains GP from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Seaport Global Securities started coverage on shares of Plains GP in a research report on Tuesday, October 10th. They issued a “neutral” rating and a $23.00 target price for the company. Zacks Investment Research upgraded shares of Plains GP from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, Robert W. Baird set a $20.00 price target on shares of Plains GP and gave the company a “hold” rating in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Plains GP currently has an average rating of “Hold” and a consensus price target of $25.71.

Several institutional investors have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Plains GP by 9.4% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 7,636,798 shares of the pipeline company’s stock worth $167,017,000 after purchasing an additional 653,301 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Plains GP by 15.8% during the second quarter. Goldman Sachs Group Inc. now owns 5,132,617 shares of the pipeline company’s stock worth $134,270,000 after purchasing an additional 701,120 shares during the period. Atlantic Trust Group LLC boosted its holdings in shares of Plains GP by 32.0% during the third quarter. Atlantic Trust Group LLC now owns 2,935,457 shares of the pipeline company’s stock worth $64,199,000 after purchasing an additional 711,518 shares during the period. Voya Investment Management LLC raised its stake in Plains GP by 9.4% in the second quarter. Voya Investment Management LLC now owns 2,607,899 shares of the pipeline company’s stock worth $68,223,000 after buying an additional 224,501 shares in the last quarter. Finally, State Street Corp raised its stake in Plains GP by 4.7% in the second quarter. State Street Corp now owns 1,729,564 shares of the pipeline company’s stock worth $45,249,000 after buying an additional 77,866 shares in the last quarter. Institutional investors own 83.05% of the company’s stock.

Shares of Plains GP (NYSE:PAGP) opened at $22.92 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.78 and a current ratio of 1.00. Plains GP has a 1 year low of $18.98 and a 1 year high of $34.63. The stock has a market cap of $6,620.00, a PE ratio of 52.09 and a beta of 1.51.

Plains GP (NYSE:PAGP) last posted its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.20). The business had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Plains GP had a net margin of 0.25% and a return on equity of 0.50%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.39 earnings per share. equities research analysts anticipate that Plains GP will post 0.87 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.24%. Plains GP’s dividend payout ratio is currently 272.73%.

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Plains GP Company Profile

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.

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