Beach Investment Counsel Inc. PA Has $1.88 Million Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Beach Investment Counsel Inc. PA trimmed its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 15.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,987 shares of the pipeline company’s stock after selling 19,141 shares during the quarter. Beach Investment Counsel Inc. PA owned 0.05% of Plains GP worth $1,875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PAGP. Continuum Advisory LLC lifted its position in shares of Plains GP by 10.0% during the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after acquiring an additional 637 shares during the period. SL Advisors LLC lifted its position in shares of Plains GP by 3.3% during the 3rd quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company’s stock worth $394,000 after buying an additional 679 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Plains GP by 1.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock worth $720,000 after buying an additional 717 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of Plains GP by 1.2% during the 3rd quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock worth $1,110,000 after buying an additional 729 shares during the last quarter. Finally, Drucker Wealth 3.0 LLC lifted its position in shares of Plains GP by 1.7% during the 3rd quarter. Drucker Wealth 3.0 LLC now owns 59,110 shares of the pipeline company’s stock worth $1,094,000 after buying an additional 970 shares during the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

Plains GP Stock Performance

Shares of Plains GP stock opened at $21.33 on Tuesday. The business’s fifty day simple moving average is $19.73 and its 200 day simple moving average is $19.03. The firm has a market capitalization of $4.21 billion, a P/E ratio of 25.08 and a beta of 1.58. Plains GP Holdings, L.P. has a 12 month low of $15.78 and a 12 month high of $22.31. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

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

Plains GP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.13%. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s payout ratio is 178.82%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wells Fargo & Company downgraded Plains GP from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Raymond James increased their target price on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th. Morgan Stanley downgraded Plains GP from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Barclays increased their target price on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Finally, StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.60.

About Plains GP

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.