Platform Technology Partners Sells 1,426 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Platform Technology Partners reduced its holdings in Plains GP Holdings, L.P. (NYSE:PAGP – Get Rating) by 9.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,986 shares of the pipeline company’s stock after selling 1,426 shares during the quarter. Platform Technology Partners’ holdings in Plains GP were worth $162,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in shares of Plains GP by 60.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company’s stock worth $39,000 after buying an additional 1,300 shares during the last quarter. Atlas Capital Advisors LLC grew its position in shares of Plains GP by 407.9% in the 2nd quarter. Atlas Capital Advisors LLC now owns 7,619 shares of the pipeline company’s stock worth $79,000 after buying an additional 6,119 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Plains GP by 1,011.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 8,670 shares of the pipeline company’s stock worth $94,000 after buying an additional 7,890 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of Plains GP in the 3rd quarter valued at approximately $98,000. Finally, Pictet Asset Management SA purchased a new position in shares of Plains GP in the 2nd quarter valued at approximately $110,000. 83.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PAGP has been the subject of a number of research analyst reports. Raymond James raised their target price on Plains GP from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, February 9th. StockNews.com initiated coverage on Plains GP in a research note on Thursday. They issued a “hold” rating for the company. UBS Group raised their target price on Plains GP from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Citigroup began coverage on Plains GP in a research note on Thursday, December 8th. They set a “buy” rating and a $14.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Plains GP from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, March 9th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Plains GP has an average rating of “Moderate Buy” and a consensus price target of $15.25.

Plains GP Stock Performance

NYSE:PAGP opened at $12.26 on Friday. The stock has a 50-day simple moving average of $13.27 and a two-hundred day simple moving average of $12.65. Plains GP Holdings, L.P. has a 52-week low of $9.39 and a 52-week high of $14.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.79 and a current ratio of 0.91. The firm has a market capitalization of $2.38 billion, a PE ratio of 14.50 and a beta of 1.63.

Plains GP (NYSE:PAGP – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The pipeline company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.08). Plains GP had a net margin of 0.29% and a return on equity of 1.18%. The company had revenue of $12.95 billion for the quarter, compared to the consensus estimate of $14.40 billion. Analysts forecast that Plains GP Holdings, L.P. will post 1.09 EPS for the current year.

Plains GP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st were issued a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 8.73%. The ex-dividend date was Monday, January 30th. This is a positive change from Plains GP’s previous quarterly dividend of $0.22. Plains GP’s payout ratio is currently 124.42%.

Plains GP Company Profile

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Plains GP Holdings LP owns and operates midstream energy infrastructure and provides logistics services primarily for crude oil, natural gas liquids and natural gas through its indirect investment in Plains All American Pipeline, L.P. The firm operates through the following segments: Transportation, Facilities and Supply and Logistics.