Creekmur Asset Management LLC Makes New Investment in Plains GP Holdings, L.P. (NYSE:PAGP)

Creekmur Asset Management LLC bought a new position in Plains GP Holdings, L.P. (NYSE:PAGP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,595 shares of the pipeline company’s stock, valued at approximately $153,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisor Resource Council acquired a new position in shares of Plains GP in the fourth quarter worth about $167,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Plains GP by 14.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,809 shares of the pipeline company’s stock worth $190,000 after purchasing an additional 1,458 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Plains GP during the third quarter worth approximately $201,000. Waterloo Capital L.P. acquired a new stake in shares of Plains GP during the fourth quarter worth approximately $240,000. Finally, Harbour Trust & Investment Management Co acquired a new stake in shares of Plains GP during the fourth quarter worth approximately $245,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Performance

PAGP stock traded down $0.24 on Friday, reaching $17.40. 1,025,845 shares of the company were exchanged, compared to its average volume of 1,222,771. Plains GP Holdings, L.P. has a 12 month low of $13.78 and a 12 month high of $19.77. The stock’s fifty day moving average price is $18.32 and its 200 day moving average price is $17.25. The firm has a market capitalization of $3.43 billion, a PE ratio of 19.77 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 earnings results on Friday, May 3rd. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). Plains GP had a return on equity of 1.15% and a net margin of 0.35%. The company had revenue of $12 billion for the quarter, compared to the consensus estimate of $13.72 billion. On average, research analysts anticipate that Plains GP Holdings, L.P. will post 1.01 EPS for the current fiscal year.

Plains GP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.30%. The ex-dividend date was Tuesday, April 30th. Plains GP’s dividend payout ratio (DPR) is currently 144.32%.

Analyst Ratings Changes

Several analysts recently commented on PAGP shares. Citigroup raised their price target on shares of Plains GP from $17.50 to $18.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. The Goldman Sachs Group raised their price objective on shares of Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, April 12th. UBS Group raised their price objective on shares of Plains GP from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, April 12th. StockNews.com lowered shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, Scotiabank began coverage on shares of Plains GP in a research report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus 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.