Plains GP Holdings, L.P. (NYSE:PAGP) Stock Position Boosted by Inscription Capital LLC

Inscription Capital LLC raised its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,029 shares of the pipeline company’s stock after buying an additional 2,201 shares during the period. Inscription Capital LLC’s holdings in Plains GP were worth $1,018,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAGP. Cetera Investment Advisers lifted its holdings in shares of Plains GP by 644.7% in the first quarter. Cetera Investment Advisers now owns 154,961 shares of the pipeline company’s stock valued at $2,828,000 after buying an additional 134,153 shares during the period. Janus Henderson Group PLC bought a new position in shares of Plains GP during the 1st quarter valued at about $1,669,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Plains GP in the 1st quarter worth approximately $697,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Plains GP by 25.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,712,817 shares of the pipeline company’s stock worth $31,259,000 after purchasing an additional 344,303 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its stake in Plains GP by 82.7% during the first quarter. Bahl & Gaynor Inc. now owns 921,467 shares of the pipeline company’s stock valued at $16,817,000 after purchasing an additional 417,031 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors.

Plains GP Stock Performance

Shares of NYSE:PAGP traded down $0.20 during trading on Monday, hitting $17.72. 227,875 shares of the stock were exchanged, compared to its average volume of 1,730,292. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 20.36 and a beta of 1.53. 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 1-year low of $14.93 and a 1-year high of $20.10. The company’s fifty day simple moving average is $18.71 and its 200-day simple moving average is $18.63.

Plains GP (NYSE:PAGP) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.11). The business had revenue of $12.93 billion for the quarter, compared to analyst estimates of $13.70 billion. Plains GP had a return on equity of 1.09% and a net margin of 0.33%. During the same quarter in the prior year, the firm earned $0.25 EPS. Sell-side analysts expect that Plains GP Holdings, L.P. will post 1.19 EPS for the current fiscal year.

Plains GP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.17%. The ex-dividend date is Thursday, October 31st. Plains GP’s dividend payout ratio is currently 144.32%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PAGP. StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Wolfe Research upgraded Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Finally, Morgan Stanley downgraded Plains GP from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $22.00 to $19.00 in a report on Friday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Plains GP has a consensus rating of “Hold” and a consensus price target of $20.00.

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.