Exchange Traded Concepts LLC Purchases 2,292 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

by · The Markets Daily

Exchange Traded Concepts LLC grew its position in Plains GP Holdings, L.P. (NYSE:PAGP – Free Report) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 235,331 shares of the pipeline company’s stock after buying an additional 2,292 shares during the period. Exchange Traded Concepts LLC owned approximately 0.12% of Plains GP worth $4,354,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. SL Advisors LLC increased its stake in Plains GP by 3.3% during the 3rd quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company’s stock worth $394,000 after purchasing an additional 679 shares in the last quarter. Kesler Norman & Wride LLC acquired a new position in shares of Plains GP in the third quarter valued at approximately $523,000. Walnut Private Equity Partners LLC raised its holdings in shares of Plains GP by 11.1% during the third quarter. Walnut Private Equity Partners LLC now owns 50,000 shares of the pipeline company’s stock worth $925,000 after acquiring an additional 5,000 shares during the period. Cetera Investment Advisers raised its holdings in shares of Plains GP by 9.5% during the second quarter. Cetera Investment Advisers now owns 169,748 shares of the pipeline company’s stock worth $3,195,000 after acquiring an additional 14,787 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Plains GP by 4.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,975 shares of the pipeline company’s stock valued at $319,000 after acquiring an additional 755 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

Plains GP Stock Up 0.5 %

PAGP stock opened at $18.87 on Monday. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 21.44 and a beta of 1.53. Plains GP Holdings, L.P. has a twelve month low of $14.93 and a twelve month high of $20.10. The business has a 50 day moving average price of $18.72 and a two-hundred day moving average price of $18.67. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.49.

Plains GP (NYSE:PAGP – Get Free Report) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.11). Plains GP had a net margin of 0.33% and a return on equity of 1.09%. The firm had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $13.70 billion. During the same period in the prior year, the business posted $0.25 earnings per share. Analysts anticipate that Plains GP Holdings, L.P. will post 1.24 EPS for the current fiscal year.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.3175 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.73%. Plains GP’s payout ratio is 144.32%.

Analyst Ratings Changes

PAGP has been the topic of several recent research reports. Wolfe Research raised Plains GP to a “hold” rating in a research note on Wednesday, September 18th. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Plains GP presently has an average rating of “Hold” and an average price target of $20.11.

Get Our Latest Stock Analysis on Plains GP

Plains GP Company Profile

(Free Report)

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.

See Also

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