Requisite Capital Management LLC Sells 19,591 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Requisite Capital Management LLC reduced its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 33.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,192 shares of the pipeline company’s stock after selling 19,591 shares during the period. Requisite Capital Management LLC’s holdings in Plains GP were worth $715,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in Plains GP by 88.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,772,217 shares of the pipeline company’s stock worth $60,167,000 after buying an additional 1,774,438 shares during the period. Chickasaw Capital Management LLC increased its position in shares of Plains GP by 6.9% during the fourth quarter. Chickasaw Capital Management LLC now owns 6,632,388 shares of the pipeline company’s stock valued at $105,787,000 after purchasing an additional 429,179 shares during the period. Symmetry Investments LP bought a new stake in shares of Plains GP during the fourth quarter valued at approximately $1,002,000. Hennessy Advisors Inc. increased its position in shares of Plains GP by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 1,543,100 shares of the pipeline company’s stock valued at $28,162,000 after purchasing an additional 190,700 shares during the period. Finally, Walnut Private Equity Partners LLC increased its position in shares of Plains GP by 13.5% during the fourth quarter. Walnut Private Equity Partners LLC now owns 42,000 shares of the pipeline company’s stock valued at $670,000 after purchasing an additional 5,000 shares during the period. 88.30% of the stock is owned by institutional investors.

Plains GP Trading Up 2.2 %

Shares of Plains GP stock traded up $0.41 during trading hours on Tuesday, hitting $19.44. The company’s stock had a trading volume of 2,812,338 shares, compared to its average volume of 2,005,049. Plains GP Holdings, L.P. has a 12 month low of $14.51 and a 12 month high of $19.77. The stock has a 50 day moving average of $18.22 and a 200 day moving average of $17.50. The company has a market capitalization of $3.83 billion, a PE ratio of 22.09 and a beta of 1.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.88.

Plains GP (NYSE:PAGP) last announced its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05). Plains GP had a return on equity of 1.15% and a net margin of 0.35%. The business had revenue of $12 billion during the quarter, compared to the consensus estimate of $13.72 billion. Analysts predict that Plains GP Holdings, L.P. will post 1.01 earnings per share for the current year.

Plains GP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a dividend of $0.3175 per share. The ex-dividend date was Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.53%. Plains GP’s payout ratio is presently 144.32%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. StockNews.com cut Plains GP from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Citigroup upped their price target on Plains GP from $17.50 to $18.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Stifel Nicolaus upped their price target on Plains GP from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley upped their price target on Plains GP from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Finally, The Goldman Sachs Group upped their price target on Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Plains GP presently has an average rating of “Moderate Buy” and an average target price of $19.82.

Plains GP 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.