McIlrath & Eck LLC Grows Position in Plains GP Holdings, L.P. $PAGP

by · The Markets Daily

McIlrath & Eck LLC increased its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP – Free Report) by 18.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,673 shares of the pipeline company’s stock after buying an additional 1,657 shares during the quarter. McIlrath & Eck LLC’s holdings in Plains GP were worth $228,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in Plains GP by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,220,898 shares of the pipeline company’s stock worth $111,518,000 after buying an additional 29,911 shares during the last quarter. Palo Duro Investment Partners LP grew its stake in Plains GP by 14.2% during the 1st quarter. Palo Duro Investment Partners LP now owns 12,936 shares of the pipeline company’s stock worth $276,000 after buying an additional 1,608 shares during the last quarter. NewEdge Advisors LLC grew its stake in Plains GP by 1.9% during the 1st quarter. NewEdge Advisors LLC now owns 79,444 shares of the pipeline company’s stock worth $1,697,000 after buying an additional 1,444 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Plains GP by 17.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,559,937 shares of the pipeline company’s stock worth $54,680,000 after buying an additional 389,096 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in Plains GP by 6.1% during the 1st quarter. Royal Bank of Canada now owns 468,314 shares of the pipeline company’s stock worth $10,003,000 after buying an additional 26,952 shares during the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Stock Down 0.1%

Plains GP stock opened at $18.41 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average of $19.29 and a two-hundred day moving average of $19.31. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 34.74 and a beta of 0.76. Plains GP Holdings, L.P. has a twelve month low of $16.60 and a twelve month high of $22.31.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.3%. The ex-dividend date of this dividend was Thursday, July 31st. Plains GP’s dividend payout ratio (DPR) is currently 220.29%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Mizuho increased their price objective on Plains GP from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 18th. Citigroup decreased their price objective on Plains GP from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Morgan Stanley decreased their price objective on Plains GP from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. increased their price objective on Plains GP from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Plains GP has an average rating of “Hold” and an average target price of $20.50.

Read Our Latest Stock Analysis on Plains GP

Plains GP 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.

Featured Articles