Bahl & Gaynor Inc. Increases Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Bahl & Gaynor Inc. raised its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 504,436 shares of the pipeline company’s stock after buying an additional 20,382 shares during the quarter. Bahl & Gaynor Inc. owned about 0.26% of Plains GP worth $8,046,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Spire Wealth Management grew its stake in Plains GP by 63.2% during the 3rd quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 983 shares in the last quarter. Rational Advisors LLC acquired a new stake in shares of Plains GP in the third quarter valued at approximately $43,000. Allworth Financial LP purchased a new position in Plains GP during the third quarter worth approximately $48,000. Allspring Global Investments Holdings LLC boosted its stake in Plains GP by 95.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,475 shares of the pipeline company’s stock worth $56,000 after buying an additional 1,697 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Plains GP in the 3rd quarter valued at $63,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Down 0.8 %

Plains GP stock traded down $0.16 during midday trading on Friday, reaching $18.76. The company’s stock had a trading volume of 2,403,866 shares, compared to its average volume of 2,233,008. The company has a market cap of $3.70 billion, a P/E ratio of 18.39 and a beta of 1.55. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The business has a 50-day simple moving average of $18.01 and a 200-day simple moving average of $16.72. Plains GP Holdings, L.P. has a fifty-two week low of $12.59 and a fifty-two week high of $19.77.

Plains GP (NYSE:PAGP) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.06). The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.88 billion. Plains GP had a return on equity of 1.33% and a net margin of 0.41%. On average, research analysts expect that Plains GP Holdings, L.P. will post 1.05 earnings per share for the current fiscal year.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 annualized dividend and a yield of 6.77%. Plains GP’s dividend payout ratio is currently 124.51%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group lifted their price target on Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Stifel Nicolaus increased their target price on shares of Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Barclays boosted their price target on shares of Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. Finally, UBS Group boosted their target price on Plains GP from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.55.

Plains GP 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.