Plains GP Holdings, L.P. (NYSE:PAGP) Shares Bought by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,373,000 shares of the pipeline company’s stock after purchasing an additional 53,000 shares during the period. Plains GP accounts for 6.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 4th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 2.22% of Plains GP worth $80,900,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Eastern Bank purchased a new stake in shares of Plains GP during the third quarter worth approximately $76,000. Wealth Alliance Advisory Group LLC purchased a new stake in shares of Plains GP during the third quarter worth $202,000. Global Retirement Partners LLC raised its position in shares of Plains GP by 1,430.7% in the third quarter. Global Retirement Partners LLC now owns 19,042 shares of the pipeline company’s stock valued at $352,000 after buying an additional 17,798 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Plains GP by 1.0% in the third quarter. Exchange Traded Concepts LLC now owns 235,331 shares of the pipeline company’s stock worth $4,354,000 after buying an additional 2,292 shares in the last quarter. Finally, SL Advisors LLC lifted its stake in shares of Plains GP by 3.3% in the third quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company’s stock worth $394,000 after buying an additional 679 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Performance

NYSE PAGP traded down $0.05 during trading on Tuesday, reaching $18.23. The company’s stock had a trading volume of 248,751 shares, compared to its average volume of 1,735,158. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.90 and a current ratio of 1.00. Plains GP Holdings, L.P. has a twelve month low of $14.93 and a twelve month high of $20.10. The business’s fifty day moving average price is $18.74 and its 200-day moving average price is $18.67. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 20.77 and a beta of 1.53.

Plains GP (NYSE:PAGP) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.11). Plains GP had a net margin of 0.33% and a return on equity of 1.09%. The firm had revenue of $12.93 billion during the quarter, compared to analyst estimates of $13.70 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. As a group, analysts anticipate that Plains GP Holdings, L.P. will post 1.24 EPS for the current fiscal year.

Plains GP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.3175 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 6.97%. Plains GP’s payout ratio is currently 144.32%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wolfe Research upgraded shares of Plains GP to a “hold” rating in a research report on Wednesday, September 18th. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Plains GP currently has an average rating of “Hold” and a consensus price target of $20.11.

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.