50,674 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Bought by Leisure Capital Management

Leisure Capital Management bought a new stake in Plains GP Holdings, L.P. (NYSE:PAGP) during the 4th quarter, Holdings Channel.com reports. The firm bought 50,674 shares of the pipeline company’s stock, valued at approximately $931,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hara Capital LLC bought a new position in shares of Plains GP in the 3rd quarter worth $57,000. Eastern Bank bought a new position in Plains GP during the third quarter worth about $76,000. Continuum Advisory LLC raised its position in shares of Plains GP by 10.0% in the third quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after purchasing an additional 637 shares during the period. Insigneo Advisory Services LLC purchased a new stake in shares of Plains GP during the 3rd quarter valued at approximately $188,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in Plains GP in the 3rd quarter worth approximately $200,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Friday, January 10th. Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $22.00 to $19.00 in a report on Friday, October 25th. Wells Fargo & Company downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Barclays upped their target price on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Finally, StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.60.

Plains GP Price Performance

PAGP opened at $21.15 on Monday. The stock has a fifty day simple moving average of $19.73 and a two-hundred day simple moving average of $19.03. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 24.88 and a beta of 1.58. 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 Holdings, L.P. has a 12-month low of $15.78 and a 12-month high of $22.31.

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

Plains GP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.38 dividend. The ex-dividend date is Friday, January 31st. This is a boost from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.19%. Plains GP’s dividend payout ratio is 178.82%.

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.