F&V Capital Management LLC Buys New Shares in Plains GP Holdings, L.P. (NYSE:PAGP)

F&V Capital Management LLC purchased a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,350 shares of the pipeline company’s stock, valued at approximately $153,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PAGP. Chickasaw Capital Management LLC raised its position in Plains GP by 24.7% in the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock worth $151,047,000 after purchasing an additional 1,629,008 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Plains GP by 1.2% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock valued at $80,900,000 after buying an additional 53,000 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Plains GP by 8.5% during the third quarter. BNP Paribas Financial Markets now owns 1,313,974 shares of the pipeline company’s stock valued at $24,309,000 after buying an additional 103,353 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Plains GP in the third quarter worth about $13,848,000. Finally, Catalyst Capital Advisors LLC lifted its stake in shares of Plains GP by 10.0% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 732,335 shares of the pipeline company’s stock valued at $13,548,000 after acquiring an additional 66,690 shares during the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Barclays raised their target price on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Wells Fargo & Company lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Friday, January 10th. Finally, StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.60.

Plains GP Stock Up 0.3 %

Shares of NYSE PAGP opened at $21.21 on Tuesday. The firm has a fifty day simple moving average of $19.73 and a two-hundred day simple moving average of $19.03. Plains GP Holdings, L.P. has a 12 month low of $15.78 and a 12 month high of $22.31. 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 firm has a market capitalization of $4.19 billion, a PE ratio of 24.88 and a beta of 1.58.

Plains GP (NYSE:PAGP) last released its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.21). Plains GP had a return on equity of 1.12% and a net margin of 0.33%. The company had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.17 billion. During the same period in the previous year, the company earned $0.15 earnings per share. Equities analysts expect that Plains GP Holdings, L.P. will post 0.83 earnings per share for the current year.

Plains GP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.17%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s dividend payout ratio (DPR) is presently 178.82%.

Plains GP Profile

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.