Vanguard Group Inc. reduced its position in Plains GP Holdings LP (NYSE:PAGP) by 1.5% during the third quarter, Holdings Channel reports. The firm owned 918,827 shares of the pipeline company’s stock after selling 13,571 shares during the period. Vanguard Group Inc.’s holdings in Plains GP were worth $22,539,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. IFM Investors Pty Ltd bought a new position in Plains GP during the third quarter worth $216,000. Linscomb & Williams Inc. boosted its stake in Plains GP by 30.8% during the third quarter. Linscomb & Williams Inc. now owns 9,811 shares of the pipeline company’s stock worth $241,000 after acquiring an additional 2,311 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in Plains GP during the third quarter worth $245,000. Invictus RG bought a new position in Plains GP during the third quarter worth $261,000. Finally, Virtus Alternative Investment Advisers Inc. bought a new position in Plains GP during the third quarter worth $285,000. 85.77% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on PAGP. ValuEngine raised shares of Plains GP from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Zacks Investment Research raised shares of Plains GP from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Thursday, February 7th. Evercore ISI began coverage on shares of Plains GP in a research note on Tuesday, February 5th. They set a $24.00 target price on the stock. Citigroup cut their target price on shares of Plains GP from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, November 29th. Finally, Morgan Stanley increased their target price on shares of Plains GP from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 30th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $28.60.

PAGP opened at $24.22 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.71 and a current ratio of 0.89. Plains GP Holdings LP has a 1-year low of $19.17 and a 1-year high of $27.00. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 11.48 and a beta of 1.26.

Plains GP (NYSE:PAGP) last released its quarterly earnings data on Tuesday, February 5th. The pipeline company reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.61. Plains GP had a net margin of 0.98% and a return on equity of 2.69%. The firm had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $10.52 billion. During the same quarter in the prior year, the company posted ($5.16) earnings per share. The business’s revenue was up 15.5% on a year-over-year basis. On average, equities research analysts anticipate that Plains GP Holdings LP will post 1.61 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 14th. Shareholders of record on Thursday, January 31st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, January 30th. This represents a $1.20 annualized dividend and a yield of 4.95%. Plains GP’s payout ratio is 56.87%.

In other news, Director Oscar K. Brown bought 4,400 shares of the stock in a transaction dated Thursday, December 27th. The stock was bought at an average price of $19.54 per share, for a total transaction of $85,976.00. Following the completion of the acquisition, the director now directly owns 11,000 shares in the company, valued at approximately $214,940. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Oscar K. Brown bought 2,500 shares of the stock in a transaction dated Friday, November 23rd. The stock was purchased at an average price of $20.42 per share, with a total value of $51,050.00. Following the acquisition, the director now owns 9,600 shares of the company’s stock, valued at $196,032. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 7,900 shares of company stock worth $156,846. Corporate insiders own 16.80% of the company’s stock.

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Plains GP 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.

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

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