Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by Childress Capital Advisors LLC

Childress Capital Advisors LLC decreased its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 60.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,611 shares of the pipeline company’s stock after selling 16,206 shares during the quarter. Childress Capital Advisors LLC’s holdings in Plains GP were worth $195,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Chickasaw Capital Management LLC lifted its holdings in Plains GP by 24.7% in the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock valued at $151,047,000 after purchasing an additional 1,629,008 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Plains GP in the third quarter worth about $13,848,000. Yaupon Capital Management LP acquired a new position in Plains GP during the third quarter worth about $9,772,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Plains GP in the 3rd quarter valued at about $4,013,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in Plains GP by 114.8% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 370,496 shares of the pipeline company’s stock worth $6,810,000 after purchasing an additional 198,000 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Raymond James increased their price target on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Wells Fargo & Company lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Barclays lifted their target price on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Finally, Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Plains GP currently has a consensus rating of “Hold” and an average price target of $20.60.

Plains GP Stock Up 0.5 %

Plains GP stock opened at $21.32 on Wednesday. The company has a market capitalization of $4.21 billion, a PE ratio of 25.08 and a beta of 1.58. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP Holdings, L.P. has a fifty-two week low of $15.78 and a fifty-two week high of $22.31. The firm has a 50 day moving average price of $19.77 and a 200 day moving average price of $19.04.

Plains GP (NYSE:PAGP) last posted its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.21). Plains GP had a net margin of 0.33% and a return on equity of 1.12%. The firm had revenue of $12.74 billion during the quarter, compared to analysts’ expectations of $13.17 billion. During the same quarter in the prior year, the firm posted $0.15 EPS. Research analysts expect that Plains GP Holdings, L.P. will post 0.83 earnings per share for the current year.

Plains GP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.38 dividend. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.52 annualized dividend and a dividend yield of 7.13%. Plains GP’s dividend payout ratio (DPR) is presently 178.82%.

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.