50,674 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Purchased by Leisure Capital Management

Leisure Capital Management bought a new stake in Plains GP Holdings, L.P. (NYSE:PAGP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 50,674 shares of the pipeline company’s stock, valued at approximately $931,000.

Other hedge funds have also added to or reduced their stakes in the company. Continuum Advisory LLC grew its holdings in shares of Plains GP by 10.0% in the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after acquiring an additional 637 shares in the last quarter. SL Advisors LLC boosted its holdings in shares of Plains GP by 3.3% in the 3rd quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company’s stock valued at $394,000 after buying an additional 679 shares during the last quarter. NewEdge Advisors LLC grew its stake 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 buying an additional 681 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Plains GP by 1.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock worth $720,000 after buying an additional 717 shares during the last quarter. Finally, Townsquare Capital LLC raised its position in Plains GP by 1.2% during the third quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock worth $1,110,000 after acquiring an additional 729 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

Plains GP Stock Performance

NYSE PAGP opened at $21.15 on Monday. Plains GP Holdings, L.P. has a 12-month low of $15.78 and a 12-month high of $22.31. The firm has a 50-day moving average price of $19.73 and a two-hundred day moving average price of $19.03. The company has a market capitalization of $4.18 billion, a P/E ratio of 24.88 and a beta of 1.58. 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 posted its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.21). Plains GP had a return on equity of 1.12% and a net margin of 0.33%. The company had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.17 billion. During the same quarter last year, the business earned $0.15 EPS. Analysts anticipate that Plains GP Holdings, L.P. will post 0.83 earnings per share for the current year.

Plains GP Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Raymond James raised their price target on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Wolfe Research upgraded shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.60.

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.