Donoghue Forlines LLC Sells 3,775 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Donoghue Forlines LLC trimmed its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 15.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,162 shares of the pipeline company’s stock after selling 3,775 shares during the period. Donoghue Forlines LLC’s holdings in Plains GP were worth $386,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PAGP. Assenagon Asset Management S.A. increased its position in shares of Plains GP by 88.8% during the fourth 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 during the period. Westwood Holdings Group Inc. raised 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 buying an additional 1,721,120 shares in the last quarter. Morningstar Investment Services LLC lifted its holdings in shares of Plains GP by 97.8% during the 4th quarter. Morningstar Investment Services LLC now owns 1,452,776 shares of the pipeline company’s stock worth $23,114,000 after acquiring an additional 718,465 shares during the period. Chickasaw Capital Management LLC boosted its position in shares of Plains GP by 6.9% during 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 acquiring an additional 429,179 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in Plains GP by 46.6% in the fourth quarter. Hsbc Holdings PLC now owns 1,232,115 shares of the pipeline company’s stock valued at $19,653,000 after acquiring an additional 391,773 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analysts Set New Price Targets

PAGP has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price objective on Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, April 12th. Stifel Nicolaus upped their price target on Plains GP from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley lifted their price objective on Plains GP from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Barclays upped their target price on shares of Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a report on Friday, April 12th. Finally, Wells Fargo & Company lifted their price target on shares of Plains GP from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.90.

Plains GP Price Performance

Shares of NYSE PAGP traded up $0.11 during trading on Tuesday, reaching $19.69. The company had a trading volume of 102,203 shares, compared to its average volume of 1,933,206. The business’s 50 day moving average price is $18.41 and its 200-day moving average price is $17.74. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.88 and a current ratio of 0.97. Plains GP Holdings, L.P. has a 52 week low of $14.71 and a 52 week high of $19.94. The stock has a market cap of $3.88 billion, a PE ratio of 22.25 and a beta of 1.54.

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

Plains GP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.3175 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.27 annualized dividend and a dividend yield of 6.45%. Plains GP’s payout ratio is currently 144.32%.

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.