Energy Income Partners LLC Has $194.17 Million Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Energy Income Partners LLC decreased its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 5.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 10,639,417 shares of the pipeline company’s stock after selling 672,335 shares during the quarter. Plains GP accounts for about 4.0% of Energy Income Partners LLC’s holdings, making the stock its 7th biggest holding. Energy Income Partners LLC owned approximately 0.05% of Plains GP worth $194,169,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PAGP. Westwood Holdings Group Inc. raised its stake in Plains GP by 58.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 4,645,531 shares of the pipeline company’s stock worth $74,096,000 after buying an additional 1,721,120 shares in the last quarter. Morningstar Investment Services LLC raised its stake in Plains GP by 97.8% in the fourth quarter. Morningstar Investment Services LLC now owns 1,452,776 shares of the pipeline company’s stock worth $23,114,000 after buying an additional 718,465 shares in the last quarter. Bahl & Gaynor Inc. raised its stake in Plains GP by 82.7% in the first quarter. Bahl & Gaynor Inc. now owns 921,467 shares of the pipeline company’s stock worth $16,817,000 after buying an additional 417,031 shares in the last quarter. Hsbc Holdings PLC raised its stake in Plains GP by 46.6% in the fourth quarter. Hsbc Holdings PLC now owns 1,232,115 shares of the pipeline company’s stock worth $19,653,000 after buying an additional 391,773 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Plains GP by 150.1% in the fourth quarter. BNP Paribas Financial Markets now owns 625,876 shares of the pipeline company’s stock worth $9,983,000 after purchasing an additional 375,588 shares during the last quarter. Institutional investors own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

PAGP has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Wells Fargo & Company boosted their price objective on shares of Plains GP from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. StockNews.com lowered shares of Plains GP from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. The Goldman Sachs Group boosted their price objective on shares of Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, April 12th. Finally, Citigroup boosted their price objective on shares of Plains GP from $17.50 to $18.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.11.

Plains GP Stock Performance

NYSE:PAGP traded up $0.38 during mid-day trading on Friday, hitting $19.37. The company’s stock had a trading volume of 1,643,712 shares, compared to its average volume of 1,316,599. Plains GP Holdings, L.P. has a 1 year low of $14.71 and a 1 year high of $20.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.88. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 22.01 and a beta of 1.54. The business’s fifty day moving average is $18.64 and its two-hundred day moving average is $17.96.

Plains GP (NYSE:PAGP) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05). The business had revenue of $12 billion during the quarter, compared to analysts’ expectations of $13.72 billion. Plains GP had a net margin of 0.35% and a return on equity of 1.15%. Analysts anticipate that Plains GP Holdings, L.P. will post 1.04 EPS for the current fiscal year.

Plains GP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be given a $0.3175 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.56%. Plains GP’s dividend payout ratio (DPR) is currently 144.32%.

Plains GP Company 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.