Csenge Advisory Group Sells 8,234 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Csenge Advisory Group lowered its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 31.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,772 shares of the pipeline company’s stock after selling 8,234 shares during the quarter. Csenge Advisory Group’s holdings in Plains GP were worth $324,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in shares of Plains GP by 88.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,772,217 shares of the pipeline company’s stock valued at $60,167,000 after purchasing an additional 1,774,438 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Plains GP by 58.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 4,645,531 shares of the pipeline company’s stock valued at $74,096,000 after purchasing an additional 1,721,120 shares in the last quarter. Morningstar Investment Services LLC boosted its stake in shares of Plains GP by 97.8% in the 4th quarter. Morningstar Investment Services LLC now owns 1,452,776 shares of the pipeline company’s stock valued at $23,114,000 after purchasing an additional 718,465 shares in the last quarter. Chickasaw Capital Management LLC boosted its stake in shares of Plains GP by 6.9% in the 4th quarter. Chickasaw Capital Management LLC now owns 6,632,388 shares of the pipeline company’s stock valued at $105,787,000 after purchasing an additional 429,179 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Plains GP by 46.6% in the 4th quarter. Hsbc Holdings PLC now owns 1,232,115 shares of the pipeline company’s stock valued at $19,653,000 after purchasing an additional 391,773 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

Plains GP Stock Performance

Plains GP stock opened at $19.43 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.88 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 1 year low of $14.71 and a 1 year high of $19.94. The company has a market cap of $3.83 billion, a PE ratio of 22.17 and a beta of 1.54. The company’s 50-day moving average is $18.37 and its two-hundred day moving average is $17.66.

Plains GP (NYSE:PAGP) last announced its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). The company had revenue of $12 billion during the quarter, compared to the consensus estimate of $13.72 billion. Plains GP had a net margin of 0.35% and a return on equity of 1.15%. Equities analysts anticipate that Plains GP Holdings, L.P. will post 1.01 earnings per share for the current year.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be paid a $0.3175 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.54%. Plains GP’s dividend payout ratio (DPR) is presently 144.32%.

Analyst Ratings Changes

PAGP has been the topic of several research reports. UBS Group upped their price target on shares of Plains GP from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Wells Fargo & Company upped their price target on shares of Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Barclays upped their price target on shares of Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. StockNews.com downgraded shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, Stifel Nicolaus upped their price target on shares of Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.82.

Plains GP 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.