Pacer Advisors Inc. Has $1.83 Million Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Pacer Advisors Inc. lifted its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 27.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,510 shares of the pipeline company’s stock after purchasing an additional 21,184 shares during the period. Pacer Advisors Inc.’s holdings in Plains GP were worth $1,829,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PAGP. Sei Investments Co. acquired a new stake in shares of Plains GP in the second quarter valued at approximately $2,494,000. Algert Global LLC acquired a new stake in shares of Plains GP in the second quarter valued at approximately $722,000. NewEdge Advisors LLC increased its holdings in shares of Plains GP by 0.9% in the second quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company’s stock valued at $1,407,000 after purchasing an additional 681 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Plains GP by 9.5% in the second quarter. Cetera Investment Advisers now owns 169,748 shares of the pipeline company’s stock valued at $3,195,000 after purchasing an additional 14,787 shares in the last quarter. Finally, Walnut Private Equity Partners LLC increased its holdings in shares of Plains GP by 11.1% in the third quarter. Walnut Private Equity Partners LLC now owns 50,000 shares of the pipeline company’s stock valued at $925,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PAGP. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Wells Fargo & Company lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Friday, January 10th. Finally, Raymond James lifted their target price on shares of Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.60.

Plains GP Trading Down 4.4 %

Shares of NYSE PAGP opened at $21.15 on Friday. The company’s fifty day moving average is $19.73 and its 200-day moving average is $19.04. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 24.88 and a beta of 1.58. Plains GP Holdings, L.P. has a twelve month low of $15.78 and a twelve month high of $22.31. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP (NYSE:PAGP) last announced its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.21). The firm had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.17 billion. Plains GP had a return on equity of 1.12% and a net margin of 0.33%. During the same period in the prior year, the business earned $0.15 earnings per share. Equities research analysts predict that Plains GP Holdings, L.P. will post 0.83 EPS for the current year.

Plains GP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.38 dividend. This is a boost from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.19%. The ex-dividend date is Friday, January 31st. Plains GP’s payout ratio is currently 178.82%.

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.