Edge Capital Group LLC Sells 836 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Edge Capital Group LLC lessened its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 3.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 21,926 shares of the pipeline company’s stock after selling 836 shares during the quarter. Edge Capital Group LLC’s holdings in Plains GP were worth $413,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAGP. Mather Group LLC. purchased a new stake in shares of Plains GP in the 1st quarter worth $44,000. ORG Partners LLC purchased a new stake in Plains GP in the second quarter worth about $44,000. CWM LLC grew its holdings in Plains GP by 61.0% during the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock worth $57,000 after acquiring an additional 1,147 shares in the last quarter. Hexagon Capital Partners LLC increased its position in Plains GP by 35.9% during 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 during the period. Finally, Unique Wealth Strategies LLC purchased a new position in Plains GP during the 2nd quarter valued at about $70,000. Institutional investors own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PAGP shares. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Morgan Stanley upped 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, Wolfe Research raised Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Plains GP currently has a consensus rating of “Hold” and an average price target of $20.11.

Plains GP Price Performance

NYSE PAGP opened at $18.92 on Monday. Plains GP Holdings, L.P. has a 12-month low of $14.71 and a 12-month high of $20.10. The firm’s fifty day simple moving average is $18.92 and its two-hundred day simple moving average is $18.55. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $3.73 billion, a P/E ratio of 21.50 and a beta of 1.53.

Plains GP (NYSE:PAGP) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share 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 business had revenue of $12.93 billion for the quarter, compared to analysts’ expectations of $13.70 billion. During the same quarter last year, the firm earned $0.25 earnings per share. Analysts forecast that Plains GP Holdings, L.P. will post 1.24 EPS for the current fiscal year.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 6.71%. The ex-dividend date of this dividend was Wednesday, July 31st. Plains GP’s payout ratio is currently 144.32%.

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.