Westwood Holdings Group Inc. acquired a new stake in Plains GP Holdings LP (NYSE:PAGP) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,110 shares of the pipeline company’s stock, valued at approximately $329,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Icon Wealth Partners LLC acquired a new stake in shares of Plains GP in the fourth quarter valued at about $103,000. Advisory Services Network LLC lifted its stake in shares of Plains GP by 1,492.9% in the fourth quarter. Advisory Services Network LLC now owns 5,400 shares of the pipeline company’s stock valued at $119,000 after purchasing an additional 5,061 shares during the period. Toronto Dominion Bank lifted its stake in shares of Plains GP by 40.6% in the fourth quarter. Toronto Dominion Bank now owns 8,593 shares of the pipeline company’s stock valued at $188,000 after purchasing an additional 2,483 shares during the period. Barings LLC acquired a new stake in shares of Plains GP in the fourth quarter valued at about $225,000. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of Plains GP in the first quarter valued at about $367,000. Hedge funds and other institutional investors own 87.68% of the company’s stock.
Several research firms have weighed in on PAGP. SunTrust Banks upgraded shares of Plains GP from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Monday, April 9th. Seaport Global Securities upgraded shares of Plains GP from a “neutral” rating to a “buy” rating in a report on Tuesday, February 20th. Deutsche Bank began coverage on shares of Plains GP in a report on Thursday, April 19th. They set a “buy” rating and a $29.00 target price for the company. Zacks Investment Research upgraded shares of Plains GP from a “sell” rating to a “hold” rating in a report on Thursday, March 8th. Finally, Stifel Nicolaus upgraded shares of Plains GP from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Tuesday, March 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Plains GP presently has an average rating of “Hold” and an average target price of $25.65.
Plains GP (NYSE:PAGP) last issued its quarterly earnings results on Tuesday, May 8th. The pipeline company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.08). The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $6.82 billion. Plains GP had a positive return on equity of 0.70% and a negative net margin of 2.63%. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. research analysts predict that Plains GP Holdings LP will post 1.36 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st were issued a dividend of $0.30 per share. The ex-dividend date was Monday, April 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.74%. Plains GP’s dividend payout ratio (DPR) is presently 184.62%.
Plains GP Profile
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.
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