Axa bought a new stake in shares of Plains GP Holdings LP (NYSE:PAGP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 23,054 shares of the pipeline company’s stock, valued at approximately $565,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Square Holdings L.P. increased its holdings in shares of Plains GP by 58.8% in the second quarter. Franklin Square Holdings L.P. now owns 63,720 shares of the pipeline company’s stock worth $1,524,000 after purchasing an additional 23,600 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Plains GP by 47.6% in the second quarter. Toronto Dominion Bank now owns 14,865 shares of the pipeline company’s stock worth $355,000 after purchasing an additional 4,795 shares during the last quarter. Worldquant Millennium Quantitative Strategies LLC bought a new stake in shares of Plains GP in the second quarter worth about $10,333,000. Chickasaw Capital Management LLC increased its holdings in shares of Plains GP by 4.6% in the third quarter. Chickasaw Capital Management LLC now owns 7,522,308 shares of the pipeline company’s stock worth $184,522,000 after purchasing an additional 330,003 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Plains GP by 298.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 735,431 shares of the pipeline company’s stock worth $18,039,000 after purchasing an additional 550,829 shares during the last quarter. Institutional investors own 85.83% of the company’s stock.

In other Plains GP news, Director John T. Raymond bought 25,000 shares of the company’s stock in a transaction on Tuesday, September 25th. The stock was acquired at an average price of $23.40 per share, for a total transaction of $585,000.00. Following the completion of the transaction, the director now directly owns 245,531 shares of the company’s stock, valued at $5,745,425.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Oscar K. Brown bought 2,500 shares of the company’s stock in a transaction on Friday, November 23rd. The shares were acquired at an average price of $20.42 per share, with a total value of $51,050.00. Following the transaction, the director now directly owns 9,600 shares of the company’s stock, valued at $196,032. The disclosure for this purchase can be found here. 16.80% of the stock is owned by insiders.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research cut Plains GP from a “buy” rating to a “hold” rating in a report on Friday, October 19th. Citigroup reduced their target price on Plains GP from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, November 29th. Mizuho assumed coverage on Plains GP in a research note on Wednesday, November 28th. They set a “buy” rating and a $30.00 price objective on the stock. Morgan Stanley boosted their price objective on Plains GP from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 30th. Finally, Stifel Nicolaus raised Plains GP from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $26.00 to $28.00 in a research note on Sunday, September 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $28.31.

Shares of NYSE PAGP opened at $21.49 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.71 and a debt-to-equity ratio of 0.72. Plains GP Holdings LP has a 1-year low of $19.68 and a 1-year high of $27.00. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 33.06 and a beta of 1.27.

Plains GP (NYSE:PAGP) last issued its quarterly earnings data on Tuesday, November 6th. The pipeline company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.34. Plains GP had a positive return on equity of 1.43% and a negative net margin of 1.96%. The company had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $7.37 billion. During the same period in the previous year, the firm posted $0.03 earnings per share. The firm’s revenue for the quarter was up 49.7% on a year-over-year basis. As a group, analysts predict that Plains GP Holdings LP will post 1.57 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 5.58%. Plains GP’s dividend payout ratio (DPR) is presently 184.62%.

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Plains GP Company Profile

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.

Further Reading: Capital gains and your 401(k) or IRA

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Institutional Ownership by Quarter for Plains GP (NYSE:PAGP)

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