Global X Management Co. LLC Has $15.83 Million Holdings in Plains GP Holdings LP (PAGP)

Global X Management Co. LLC raised its holdings in Plains GP Holdings LP (NYSE:PAGP) by 8.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 721,198 shares of the pipeline company’s stock after purchasing an additional 54,091 shares during the period. Global X Management Co. LLC’s holdings in Plains GP were worth $15,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in PAGP. Alliancebernstein L.P. grew its holdings in shares of Plains GP by 4.1% in the 2nd quarter. Alliancebernstein L.P. now owns 32,096 shares of the pipeline company’s stock worth $840,000 after purchasing an additional 1,277 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Plains GP by 5.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 69,788 shares of the pipeline company’s stock worth $1,826,000 after purchasing an additional 3,541 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Plains GP by 53.0% in the 2nd quarter. Northern Trust Corp now owns 346,201 shares of the pipeline company’s stock worth $9,057,000 after purchasing an additional 119,906 shares during the last quarter. FMR LLC grew its holdings in shares of Plains GP by 149.6% in the 2nd quarter. FMR LLC now owns 60,400 shares of the pipeline company’s stock worth $1,580,000 after purchasing an additional 36,200 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Plains GP by 29.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 26,704 shares of the pipeline company’s stock worth $699,000 after purchasing an additional 6,120 shares during the last quarter. 85.74% of the stock is currently owned by hedge funds and other institutional investors.

Plains GP Holdings LP (NYSE PAGP) opened at $22.77 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.78 and a debt-to-equity ratio of 0.84. Plains GP Holdings LP has a 52-week low of $18.98 and a 52-week high of $33.66. The stock has a market cap of $3,463.84, a PE ratio of -4.92 and a beta of 1.40.

Plains GP (NYSE:PAGP) last released its earnings results on Tuesday, February 6th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.25). Plains GP had a negative net margin of 2.79% and a positive return on equity of 0.73%. The business had revenue of $7.61 billion for the quarter, compared to analyst estimates of $4.91 billion. equities research analysts anticipate that Plains GP Holdings LP will post 1.56 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, January 30th. This represents a $1.20 dividend on an annualized basis and a yield of 5.27%. Plains GP’s payout ratio is presently -25.92%.

Several research analysts recently issued reports on PAGP shares. Barclays downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and set a $26.00 price target on the stock. in a research report on Wednesday, January 17th. ValuEngine downgraded shares of Plains GP from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Robert W. Baird set a $22.00 price target on shares of Plains GP and gave the stock a “hold” rating in a research report on Wednesday, February 7th. Stifel Nicolaus upped their price target on shares of Plains GP from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, November 8th. Finally, Bank of America started coverage on shares of Plains GP in a research report on Tuesday, January 9th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Plains GP currently has an average rating of “Hold” and a consensus target price of $25.88.

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Plains GP Company Profile

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.

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Institutional Ownership by Quarter for Plains GP (NYSE:PAGP)

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