Stifel Financial Corp reduced its position in shares of Plains GP Holdings LP (NYSE:PAGP) by 46.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 191,905 shares of the pipeline company’s stock after selling 168,218 shares during the quarter. Stifel Financial Corp owned 0.12% of Plains GP worth $4,196,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Great West Life Assurance Co. Can increased its holdings in shares of Plains GP by 19.1% in the second quarter. Great West Life Assurance Co. Can now owns 36,772 shares of the pipeline company’s stock valued at $961,000 after purchasing an additional 5,893 shares during the last quarter. Beach Investment Management LLC. acquired a new position in shares of Plains GP in the second quarter valued at $347,000. Teacher Retirement System of Texas increased its holdings in shares of Plains GP by 0.3% in the second quarter. Teacher Retirement System of Texas now owns 12,922 shares of the pipeline company’s stock valued at $338,000 after purchasing an additional 45 shares during the last quarter. State of Wisconsin Investment Board increased its holdings in shares of Plains GP by 9.9% in the second quarter. State of Wisconsin Investment Board now owns 316,550 shares of the pipeline company’s stock valued at $8,281,000 after purchasing an additional 28,420 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Plains GP by 76.6% in the second quarter. SG Americas Securities LLC now owns 29,375 shares of the pipeline company’s stock valued at $768,000 after purchasing an additional 12,745 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Plains GP Holdings LP (PAGP) traded up $0.11 during mid-day trading on Friday, hitting $21.29. 2,028,945 shares of the company traded hands, compared to its average volume of 1,729,480. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.00 and a quick ratio of 0.78. Plains GP Holdings LP has a fifty-two week low of $18.98 and a fifty-two week high of $35.86. The firm has a market capitalization of $3,296.61, a P/E ratio of 47.31 and a beta of 1.48.

Plains GP (NYSE:PAGP) last released its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.20). Plains GP had a net margin of 0.25% and a return on equity of 0.50%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same quarter last year, the company posted $0.39 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. equities research analysts anticipate that Plains GP Holdings LP will post 0.87 earnings per share for the current fiscal year.

PAGP has been the topic of several research reports. Barclays reiterated a “buy” rating and issued a $26.00 price objective on shares of Plains GP in a report on Thursday, October 19th. BMO Capital Markets upgraded shares of Plains GP from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $22.00 to $25.00 in a report on Monday, August 28th. Zacks Investment Research upgraded shares of Plains GP from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, October 24th. Seaport Global Securities started coverage on shares of Plains GP in a research note on Tuesday, October 10th. They issued a “neutral” rating and a $23.00 price target on the stock. Finally, ValuEngine upgraded shares of Plains GP from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $25.75.

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About Plains GP

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.

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

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