NBW Capital LLC Raises Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

NBW Capital LLC increased its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 311,500 shares of the pipeline company’s stock after purchasing an additional 4,497 shares during the period. NBW Capital LLC owned 0.16% of Plains GP worth $4,968,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its holdings in Plains GP by 60.6% in the first quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company’s stock worth $39,000 after acquiring an additional 1,300 shares in the last quarter. Spire Wealth Management boosted its holdings in Plains GP by 63.2% in the third quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 983 shares in the last quarter. Rational Advisors LLC bought a new stake in Plains GP in the third quarter worth $43,000. Allworth Financial LP bought a new stake in Plains GP in the third quarter worth $48,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Plains GP by 95.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,475 shares of the pipeline company’s stock valued at $56,000 after purchasing an additional 1,697 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Stock Performance

PAGP stock traded up $0.12 during trading on Thursday, reaching $18.39. The stock had a trading volume of 2,053,592 shares, compared to its average volume of 2,196,138. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average is $17.68 and its two-hundred day moving average is $16.56. The firm has a market cap of $3.63 billion, a PE ratio of 17.91 and a beta of 1.55. Plains GP Holdings, L.P. has a 52 week low of $12.59 and a 52 week high of $19.77.

Plains GP (NYSE:PAGP) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.88 billion. Plains GP had a return on equity of 1.33% and a net margin of 0.41%. As a group, equities analysts anticipate that Plains GP Holdings, L.P. will post 1.04 earnings per share for the current year.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains GP’s payout ratio is 124.51%.

Analyst Ratings Changes

PAGP has been the topic of a number of research analyst reports. Stifel Nicolaus upped their price target on Plains GP from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday. Barclays upped their price target on Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, April 12th. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Citigroup upped their price target on Plains GP from $16.50 to $17.50 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, UBS Group upped their price target on Plains GP from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.55.

About Plains GP

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.