HBK Investments L P increased its position in shares of Plains GP Holdings LP (NYSE:PAGP) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 321,135 shares of the pipeline company’s stock after buying an additional 16,235 shares during the period. HBK Investments L P owned 0.21% of Plains GP worth $7,049,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of PAGP. Icon Wealth Partners LLC acquired a new position in Plains GP during the fourth quarter worth $103,000. The Manufacturers Life Insurance Company boosted its position in Plains GP by 11.4% during the second 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 period. Advisory Services Network LLC boosted its position in Plains GP by 1,492.9% during the fourth quarter. Advisory Services Network LLC now owns 5,400 shares of the pipeline company’s stock worth $119,000 after purchasing an additional 5,061 shares during the period. Toronto Dominion Bank boosted its position in Plains GP by 260.0% during the third 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 period. Finally, Chicago Partners Investment Group LLC boosted its position in Plains GP by 126.9% during the third 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 period. Institutional investors and hedge funds own 84.22% of the company’s stock.
In other news, Director Oscar K. Brown acquired 7,100 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average price of $22.51 per share, with a total value of $159,821.00. Following the completion of the transaction, the director now directly owns 7,100 shares of the company’s stock, valued at approximately $159,821. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 39.93% of the company’s stock.
Plains GP (NYSE:PAGP) last announced its earnings results on Tuesday, February 6th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.25). Plains GP had a negative net margin of 2.79% and a positive return on equity of 0.73%. The business had revenue of $7.61 billion during the quarter, compared to the consensus estimate of $4.91 billion. sell-side analysts forecast that Plains GP Holdings LP will post 1.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.20 annualized dividend and a yield of 5.19%. Plains GP’s dividend payout ratio is -25.92%.
A number of research firms have commented on PAGP. JPMorgan Chase & Co. lifted their price objective on shares of Plains GP from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday. Barclays cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and set a $26.00 price objective for the company. in a research report on Wednesday, January 17th. SunTrust Banks set a $24.00 price objective on shares of Plains GP and gave the stock a “hold” rating in a research report on Thursday, November 16th. ValuEngine cut shares of Plains GP from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Finally, Credit Suisse Group began coverage on shares of Plains GP in a research report on Thursday, January 4th. They set an “outperform” rating and a $25.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $26.11.
Plains GP 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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