NBW Capital LLC Increases Position in Plains GP Holdings, L.P. (NYSE:PAGP)

NBW Capital LLC grew its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 311,500 shares of the pipeline company’s stock after acquiring an additional 4,497 shares during the quarter. NBW Capital LLC’s holdings in Plains GP were worth $4,968,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Spire Wealth Management increased its holdings in shares of Plains GP by 63.2% in the 3rd quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 983 shares during the period. Rational Advisors LLC purchased a new position in shares of Plains GP in the 3rd quarter valued at $43,000. Allworth Financial LP purchased a new position in shares of Plains GP in the 3rd quarter valued at $48,000. Geneos Wealth Management Inc. increased its holdings in shares of Plains GP by 60.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company’s stock valued at $39,000 after acquiring an additional 1,300 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake 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 buying an additional 1,697 shares during the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on PAGP. Stifel Nicolaus boosted their target price on Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays boosted their target price on Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. Citigroup boosted their target price on Plains GP from $16.50 to $17.50 and gave the stock a “neutral” rating in a research note on Friday, March 1st. The Goldman Sachs Group boosted their target price on Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Finally, Scotiabank began coverage on Plains GP in a research note on Monday, April 8th. They set a “sector outperform” rating and a $23.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.55.

Plains GP Stock Performance

PAGP traded up $0.12 on Thursday, reaching $18.39. 2,053,592 shares of the stock were exchanged, compared to its average volume of 2,196,138. The company’s 50-day moving average price is $17.68 and its 200 day moving average price is $16.56. Plains GP Holdings, L.P. has a fifty-two week low of $12.59 and a fifty-two week high of $19.77. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.87. The firm has a market capitalization of $3.63 billion, a PE ratio of 17.91 and a beta of 1.55.

Plains GP (NYSE:PAGP) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The firm 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%. As a group, sell-side analysts forecast that Plains GP Holdings, L.P. will post 1.04 EPS for the current fiscal year.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.3175 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 annualized dividend and a dividend yield of 6.91%. Plains GP’s dividend payout ratio (DPR) 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.