Pacer Advisors Inc. cut its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP – Free Report) by 34.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 64,146 shares of the pipeline company’s stock after selling 34,372 shares during the period. Pacer Advisors Inc.’s holdings in Plains GP were worth $1,557,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new stake in Plains GP during the 3rd quarter worth $46,000. North Star Investment Management Corp. acquired a new stake in Plains GP in the 1st quarter valued at approximately $56,000. Lazard Asset Management LLC lifted its position in shares of Plains GP by 36.5% during the second quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock worth $58,000 after purchasing an additional 811 shares in the last quarter. O Domhnaill Enterprises Inc. purchased a new stake in Plains GP during the 1st quarter worth about $66,000. Finally, Virtus Advisers LLC increased its position in shares of Plains GP by 46.5% in the 4th quarter. Virtus Advisers LLC now owns 5,859 shares of the pipeline company’s stock valued at $112,000 after purchasing an additional 1,859 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.
Plains GP Price Performance
Shares of Plains GP stock opened at $24.74 on Friday. Plains GP Holdings, L.P. has a 52 week low of $16.68 and a 52 week high of $26.77. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market cap of $4.90 billion, a PE ratio of 46.68 and a beta of 0.46. The company’s 50-day moving average price is $24.85 and its two-hundred day moving average price is $23.65.
Plains GP Dividend Announcement
Analyst Ratings Changes
A number of equities research analysts recently weighed in on PAGP shares. Mizuho boosted their price target on shares of Plains GP from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Citigroup boosted their price objective on shares of Plains GP from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. The Goldman Sachs Group upgraded Plains GP from a “sell” rating to a “neutral” rating and lifted their price target for the company from $18.00 to $24.00 in a research note on Wednesday, June 3rd. US Capital Advisors cut shares of Plains GP from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Finally, Morgan Stanley raised their target price on shares of Plains GP from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.36.
View Our Latest Research Report on Plains GP
About Plains GP
Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.
The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.
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