Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by Requisite Capital Management LLC

Requisite Capital Management LLC lessened its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,752 shares of the pipeline company’s stock after selling 640 shares during the period. Requisite Capital Management LLC’s holdings in Plains GP were worth $565,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sei Investments Co. acquired a new position in shares of Plains GP during the 2nd quarter worth $2,494,000. Mackenzie Financial Corp grew its position in Plains GP by 10.5% during the second quarter. Mackenzie Financial Corp now owns 1,804,713 shares of the pipeline company’s stock worth $33,965,000 after buying an additional 171,217 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Plains GP in the second quarter valued at about $5,734,000. Algert Global LLC acquired a new stake in shares of Plains GP during the 2nd quarter valued at approximately $722,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Plains GP by 0.9% during the 2nd quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company’s stock worth $1,407,000 after acquiring an additional 681 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Wall Street Analyst Weigh In

PAGP has been the subject of several research analyst reports. Barclays raised their price objective on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Friday, January 10th. Morgan Stanley downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $19.00 in a report on Friday, October 25th. Finally, 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 research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.22.

Plains GP Stock Performance

NYSE:PAGP opened at $21.76 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The firm has a market cap of $4.30 billion, a PE ratio of 25.71 and a beta of 1.58. The firm has a 50 day simple moving average of $19.45 and a 200-day simple moving average of $18.96. Plains GP Holdings, L.P. has a 1-year low of $15.78 and a 1-year high of $22.31.

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

Plains GP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 yield of 6.99%. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, January 31st. Plains GP’s dividend payout ratio (DPR) is presently 149.41%.

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.