Keybank National Association OH boosted its stake in shares of Plains GP Holdings LP (NYSE:PAGP) by 8.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 57,599 shares of the pipeline company’s stock after buying an additional 4,515 shares during the period. Keybank National Association OH’s holdings in Plains GP were worth $1,438,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in PAGP. Chickasaw Capital Management LLC raised its holdings in shares of Plains GP by 19.8% in the second quarter. Chickasaw Capital Management LLC now owns 9,598,059 shares of the pipeline company’s stock valued at $239,664,000 after purchasing an additional 1,586,393 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in shares of Plains GP by 1.9% in the second quarter. Kayne Anderson Capital Advisors LP now owns 7,216,719 shares of the pipeline company’s stock valued at $180,191,000 after purchasing an additional 136,000 shares during the last quarter. Canyon Capital Advisors LLC raised its holdings in shares of Plains GP by 3.8% in the first quarter. Canyon Capital Advisors LLC now owns 3,256,377 shares of the pipeline company’s stock valued at $81,149,000 after purchasing an additional 119,525 shares during the last quarter. Eagle Global Advisors LLC raised its holdings in shares of Plains GP by 9.9% in the first quarter. Eagle Global Advisors LLC now owns 2,967,262 shares of the pipeline company’s stock valued at $73,944,000 after purchasing an additional 267,664 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Plains GP by 4.8% in the first quarter. Clearbridge Investments LLC now owns 2,895,781 shares of the pipeline company’s stock valued at $72,163,000 after purchasing an additional 131,999 shares during the last quarter. Hedge funds and other institutional investors own 90.33% of the company’s stock.

Shares of NYSE:PAGP traded up $0.40 during midday trading on Friday, hitting $22.30. The stock had a trading volume of 986,000 shares, compared to its average volume of 1,583,907. Plains GP Holdings LP has a 12 month low of $19.17 and a 12 month high of $26.99. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.67. The business’s 50-day simple moving average is $24.15 and its 200-day simple moving average is $24.07. The company has a market cap of $3.66 billion, a P/E ratio of 10.57 and a beta of 1.15.

Plains GP (NYSE:PAGP) last released its earnings results on Tuesday, August 6th. The pipeline company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. Plains GP had a net margin of 1.47% and a return on equity of 3.71%. The business had revenue of $8.25 billion during the quarter, compared to analysts’ expectations of $7.87 billion. During the same period last year, the business earned $0.05 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts predict that Plains GP Holdings LP will post 2.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $1.44 annualized dividend and a dividend yield of 6.46%. Plains GP’s dividend payout ratio is presently 68.25%.

In related news, insider Emg Investment, Llc sold 7,328,291 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $23.10, for a total value of $169,283,522.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 16.31% of the stock is currently owned by company insiders.

PAGP has been the topic of a number of recent research reports. Wolfe Research upgraded shares of Plains GP from a “peer perform” rating to an “outperform” rating in a report on Thursday, June 13th. ValuEngine downgraded shares of Plains GP from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 31st. TheStreet downgraded shares of Plains GP from a “b-” rating to a “c+” rating in a report on Thursday, May 9th. Finally, Zacks Investment Research downgraded shares of Plains GP from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Plains GP currently has an average rating of “Buy” and a consensus price target of $28.73.

About Plains GP

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.

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

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