HF Advisory Group LLC Increases Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

HF Advisory Group LLC increased its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 257.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,887 shares of the pipeline company’s stock after purchasing an additional 70,540 shares during the quarter. HF Advisory Group LLC’s holdings in Plains GP were worth $1,561,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its position in Plains GP by 60.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 1,300 shares in the last quarter. Spire Wealth Management increased its position in Plains GP by 63.2% during the 3rd quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 983 shares in the last quarter. Rational Advisors LLC purchased a new stake in Plains GP during the 3rd quarter worth about $43,000. Allworth Financial LP purchased a new stake in Plains GP during the 3rd quarter worth about $48,000. Finally, Allspring Global Investments Holdings LLC increased its position in Plains GP by 95.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,475 shares of the pipeline company’s stock worth $56,000 after purchasing an additional 1,697 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on PAGP shares. Citigroup lifted their price target on Plains GP from $16.50 to $17.50 and gave the company a “neutral” rating in a report on Friday, March 1st. Barclays lifted their price target on Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, April 12th. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a report on Monday, March 4th. The Goldman Sachs Group lifted their price target on Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, April 12th. Finally, Scotiabank started coverage on Plains GP in a report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Plains GP presently has a consensus rating of “Moderate Buy” and an average price target of $19.55.

Plains GP Stock Up 2.4 %

Plains GP stock traded up $0.43 during midday trading on Thursday, hitting $18.70. 825,386 shares of the company were exchanged, compared to its average volume of 2,173,742. The company’s fifty day moving average price is $17.68 and its 200-day moving average price is $16.56. The company has a market cap of $3.69 billion, a PE ratio of 17.91 and a beta of 1.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.87. Plains GP Holdings, L.P. has a fifty-two week low of $12.59 and a fifty-two week high of $19.77.

Plains GP (NYSE:PAGP) last released its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.06). The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.88 billion. Plains GP had a return on equity of 1.33% and a net margin of 0.41%. On average, research analysts predict that Plains GP Holdings, L.P. will post 1.04 EPS for the current fiscal year.

Plains GP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 annualized dividend and a yield of 6.79%. Plains GP’s dividend payout ratio is presently 124.51%.

About Plains GP

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.