Symmetry Investments LP bought a new stake in Plains GP Holdings, L.P. (NYSE:PAGP – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 94,000 shares of the pipeline company’s stock, valued at approximately $953,000.
A number of other large investors have also recently modified their holdings of the stock. SG Americas Securities LLC increased its stake in Plains GP by 4.5% in the fourth quarter. SG Americas Securities LLC now owns 56,668 shares of the pipeline company’s stock valued at $575,000 after purchasing an additional 2,444 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Plains GP by 12.7% during the fourth quarter. BNP Paribas Arbitrage SA now owns 570,604 shares of the pipeline company’s stock worth $5,786,000 after acquiring an additional 64,158 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Plains GP by 2.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,650,008 shares of the pipeline company’s stock worth $147,079,000 after acquiring an additional 348,203 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Plains GP by 225.3% during the third quarter. Two Sigma Advisers LP now owns 2,065,900 shares of the pipeline company’s stock worth $22,260,000 after purchasing an additional 1,430,900 shares during the period. Finally, RR Advisors LLC lifted its holdings in shares of Plains GP by 2.9% during the third quarter. RR Advisors LLC now owns 4,425,000 shares of the pipeline company’s stock worth $47,684,000 after purchasing an additional 123,000 shares during the period. 90.45% of the stock is currently owned by hedge funds and other institutional investors.
Plains GP stock opened at $11.09 on Friday. The stock has a market cap of $2.15 billion, a PE ratio of 153.43 and a beta of 1.76. The stock has a 50-day moving average price of $11.60 and a 200 day moving average price of $11.20. Plains GP Holdings, L.P. has a 52 week low of $9.24 and a 52 week high of $12.95. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 0.59.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, April 29th were issued a $0.2175 dividend. This is a boost from Plains GP’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, April 28th. This represents a $0.87 annualized dividend and a yield of 7.84%. Plains GP’s payout ratio is 1,242.86%.
Several brokerages recently weighed in on PAGP. Barclays increased their price target on Plains GP from $12.00 to $13.00 in a report on Thursday, January 20th. Credit Suisse Group raised Plains GP from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $13.00 to $14.00 in a report on Thursday. Sanford C. Bernstein raised Plains GP from a “market perform” rating to an “outperform” rating and set a $14.50 price target for the company in a report on Tuesday, January 25th. Raymond James increased their price target on Plains GP from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Wednesday, April 20th. Finally, Morgan Stanley raised their target price on Plains GP from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday, April 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.50.
Plains GP Company Profile (Get Rating)
Plains GP Holdings, L.P., together with its subsidiaries, owns and operates midstream energy infrastructure in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the transportation of crude oil and NGLs on pipelines, gathering systems, and trucks.
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