Plains GP Holdings LP (NYSE:PAGP) Shares Sold by Morningstar Investment Services LLC

Morningstar Investment Services LLC decreased its position in Plains GP Holdings LP (NYSE:PAGP) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 747,696 shares of the pipeline company’s stock after selling 29,560 shares during the quarter. Morningstar Investment Services LLC owned 0.41% of Plains GP worth $6,370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Chickasaw Capital Management LLC grew its position in shares of Plains GP by 2.5% in the 2nd quarter. Chickasaw Capital Management LLC now owns 10,471,099 shares of the pipeline company’s stock worth $93,193,000 after acquiring an additional 253,435 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Plains GP by 5.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,430,761 shares of the pipeline company’s stock worth $41,687,000 after acquiring an additional 413,803 shares in the last quarter. RR Advisors LLC grew its position in shares of Plains GP by 160.0% in the 1st quarter. RR Advisors LLC now owns 5,305,000 shares of the pipeline company’s stock worth $29,758,000 after acquiring an additional 3,265,000 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Plains GP by 15.3% in the 1st quarter. Mackenzie Financial Corp now owns 2,287,008 shares of the pipeline company’s stock worth $12,830,000 after acquiring an additional 304,200 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Plains GP by 37.8% in the 1st quarter. Invesco Ltd. now owns 2,286,166 shares of the pipeline company’s stock worth $12,826,000 after acquiring an additional 627,199 shares in the last quarter. Institutional investors own 77.48% of the company’s stock.

PAGP stock remained flat at $$7.94 during trading on Friday. The company’s stock had a trading volume of 2,936,111 shares, compared to its average volume of 2,609,418. The company has a current ratio of 0.91, a quick ratio of 0.86 and a debt-to-equity ratio of 0.88. Plains GP Holdings LP has a one year low of $3.04 and a one year high of $24.30. The company has a fifty day simple moving average of $9.04 and a two-hundred day simple moving average of $10.88. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -3.76 and a beta of 2.38.

Plains GP (NYSE:PAGP) last announced its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $7.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $7.28. Plains GP had a positive return on equity of 11.68% and a negative net margin of 1.18%. The company had revenue of $8.27 billion during the quarter, compared to analyst estimates of $9.22 billion. On average, analysts anticipate that Plains GP Holdings LP will post 8.3 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.07%. The ex-dividend date of this dividend is Thursday, July 30th. Plains GP’s dividend payout ratio is presently 36.73%.

A number of research analysts recently issued reports on PAGP shares. Wells Fargo & Co reduced their price objective on Plains GP from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. JPMorgan Chase & Co. reduced their price objective on Plains GP from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. ValuEngine upgraded Plains GP from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 2nd. Zacks Investment Research upgraded Plains GP from a “hold” rating to a “strong-buy” rating and set a $9.50 price objective for the company in a research report on Saturday, July 25th. Finally, Raymond James boosted their price objective on Plains GP from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $12.68.

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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