Golden State Equity Partners Buys 2,214 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Golden State Equity Partners grew its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 21.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,449 shares of the pipeline company’s stock after purchasing an additional 2,214 shares during the quarter. Golden State Equity Partners’ holdings in Plains GP were worth $230,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ORG Partners LLC bought a new stake in shares of Plains GP during the second quarter valued at approximately $44,000. CWM LLC boosted its holdings in shares of Plains GP by 61.0% during the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock valued at $57,000 after buying an additional 1,147 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in shares of Plains GP in the 2nd quarter worth about $70,000. Eastern Bank bought a new position in shares of Plains GP in the 3rd quarter worth about $76,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of Plains GP by 22.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the pipeline company’s stock worth $87,000 after acquiring an additional 833 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Stock Down 0.8 %

PAGP stock opened at $17.20 on Friday. The stock has a market capitalization of $3.39 billion, a P/E ratio of 20.72 and a beta of 1.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.90. Plains GP Holdings, L.P. has a 1-year low of $14.93 and a 1-year high of $20.10. The business has a fifty day moving average price of $18.61 and a 200-day moving average price of $18.60.

Plains GP (NYSE:PAGP) last issued its 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 during the quarter, compared to analysts’ expectations of $13.70 billion. Plains GP had a return on equity of 1.09% and a net margin of 0.33%. During the same period last year, the firm posted $0.25 EPS. Equities analysts forecast that Plains GP Holdings, L.P. will post 1.19 earnings per share for the current fiscal year.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued 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 7.38%. Plains GP’s payout ratio is 153.01%.

Wall Street Analyst Weigh In

PAGP has been the topic of a number of recent research reports. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a report on Thursday. Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Wolfe Research raised Plains GP to a “hold” rating in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Plains GP has an average rating of “Hold” and a consensus target price of $20.00.

Plains GP Company 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.