Investors Purchase High Volume of Call Options on Plains GP (PAGP)

Plains GP Holdings LP (NYSE:PAGP) was the target of some unusual options trading activity on Wednesday. Traders bought 31,032 call options on the company. This is an increase of approximately 1,142% compared to the average volume of 2,499 call options.

A number of large investors have recently added to or reduced their stakes in PAGP. The Manufacturers Life Insurance Company grew its position in Plains GP by 11.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,166 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 428 shares during the last quarter. Toronto Dominion Bank grew its position in Plains GP by 260.0% during the 3rd quarter. Toronto Dominion Bank now owns 6,110 shares of the pipeline company’s stock worth $134,000 after purchasing an additional 4,413 shares during the last quarter. Penserra Capital Management LLC grew its position in Plains GP by 84.2% during the 3rd quarter. Penserra Capital Management LLC now owns 7,254 shares of the pipeline company’s stock worth $158,000 after purchasing an additional 3,315 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in Plains GP by 126.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,406 shares of the pipeline company’s stock worth $184,000 after purchasing an additional 4,702 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in Plains GP by 13.9% during the 2nd quarter. HighTower Advisors LLC now owns 8,621 shares of the pipeline company’s stock worth $225,000 after purchasing an additional 1,050 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

PAGP has been the topic of a number of research reports. Seaport Global Securities initiated coverage on shares of Plains GP in a research report on Tuesday, October 10th. They set a “neutral” rating and a $23.00 target price on the stock. ValuEngine downgraded shares of Plains GP from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. SunTrust Banks set a $24.00 target price on shares of Plains GP and gave the company a “hold” rating in a research report on Thursday, November 16th. Zacks Investment Research downgraded shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, Stifel Nicolaus raised their target price on shares of Plains GP from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.71.

Plains GP (PAGP) opened at $22.78 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.00 and a quick ratio of 0.78. Plains GP has a 12-month low of $18.98 and a 12-month high of $34.63. The stock has a market cap of $6,580.00, a P/E ratio of 51.77 and a beta of 1.51.

Plains GP (NYSE:PAGP) last issued its quarterly earnings data on Monday, November 6th. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.20). Plains GP had a return on equity of 0.50% and a net margin of 0.25%. The firm had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the previous year, the firm earned $0.39 EPS. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. research analysts forecast that Plains GP will post 0.87 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend is Tuesday, January 30th. Plains GP’s dividend payout ratio is presently 272.73%.

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Plains GP Company Profile

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.

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