Toronto Dominion Bank Decreases Stake in Plains GP Holdings LP (NYSE:PAGP)

Toronto Dominion Bank cut its stake in shares of Plains GP Holdings LP (NYSE:PAGP) by 13.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 23,651 shares of the pipeline company’s stock after selling 3,571 shares during the period. Toronto Dominion Bank’s holdings in Plains GP were worth $590,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC acquired a new position in Plains GP during the 2nd quarter worth approximately $38,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Plains GP in the 2nd quarter valued at approximately $42,000. Advisor Group Inc. raised its position in shares of Plains GP by 107.1% in the 2nd quarter. Advisor Group Inc. now owns 4,738 shares of the pipeline company’s stock valued at $118,000 after purchasing an additional 2,450 shares in the last quarter. Price Wealth Management Inc. acquired a new position in shares of Plains GP in the 2nd quarter valued at approximately $141,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of Plains GP in the 1st quarter valued at approximately $145,000. 87.10% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have issued reports on the company. Scotiabank assumed coverage on Plains GP in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $28.00 target price on the stock. Zacks Investment Research lowered Plains GP from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating in a research report on Thursday, June 13th. Finally, ValuEngine lowered Plains GP from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $27.50.

Shares of PAGP stock traded down $0.14 on Thursday, hitting $22.33. 155,867 shares of the stock traded hands, compared to its average volume of 1,296,128. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.00 and a quick ratio of 0.87. The company has a market capitalization of $3.81 billion, a PE ratio of 10.61 and a beta of 1.16. Plains GP Holdings LP has a 1-year low of $19.17 and a 1-year high of $25.82. The company’s fifty day moving average is $22.30 and its 200 day moving average is $23.83.

Plains GP (NYSE:PAGP) last issued its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.08. Plains GP had a return on equity of 3.71% and a net margin of 1.47%. The firm had revenue of $8.25 billion during the quarter, compared to the consensus estimate of $7.87 billion. During the same period in the prior year, the business earned $0.05 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts expect that Plains GP Holdings LP will post 2.6 EPS for the current year.

Plains GP Profile

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.

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

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