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

Requisite Capital Management LLC decreased its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 33.3% during the 1st quarter, Holdings Channel reports. The firm owned 39,192 shares of the pipeline company’s stock after selling 19,591 shares during the quarter. Requisite Capital Management LLC’s holdings in Plains GP were worth $715,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Donoghue Forlines LLC boosted its holdings in Plains GP by 3.5% in the fourth quarter. Donoghue Forlines LLC now owns 24,937 shares of the pipeline company’s stock worth $398,000 after acquiring an additional 841 shares in the last quarter. ELCO Management Co. LLC boosted its holdings in Plains GP by 5.3% in the third quarter. ELCO Management Co. LLC now owns 19,807 shares of the pipeline company’s stock worth $319,000 after acquiring an additional 995 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in Plains GP by 35.9% in the first quarter. Hexagon Capital Partners LLC now owns 3,791 shares of the pipeline company’s stock worth $69,000 after acquiring an additional 1,001 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Plains GP by 1.8% in the fourth quarter. Van ECK Associates Corp now owns 60,313 shares of the pipeline company’s stock worth $962,000 after acquiring an additional 1,083 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Plains GP by 5.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,377 shares of the pipeline company’s stock worth $756,000 after purchasing an additional 2,410 shares during the last quarter. Institutional investors own 88.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PAGP shares. Morgan Stanley increased their price objective on Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. The Goldman Sachs Group increased their price objective on Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. StockNews.com downgraded Plains GP from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Stifel Nicolaus increased their price objective on Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Scotiabank started coverage on Plains GP in a research note on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Plains GP has a consensus rating of “Moderate Buy” and an average target price of $19.82.

Plains GP Stock Performance

Shares of PAGP traded up $0.41 on Tuesday, reaching $19.44. 2,812,338 shares of the company’s stock traded hands, compared to its average volume of 2,005,049. The stock’s 50 day simple moving average is $18.22 and its two-hundred day simple moving average is $17.50. Plains GP Holdings, L.P. has a 52-week low of $14.51 and a 52-week high of $19.77. The stock has a market cap of $3.83 billion, a PE ratio of 22.09 and a beta of 1.54. The company has a current ratio of 0.97, a quick ratio of 0.88 and a debt-to-equity ratio of 0.49.

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

Plains GP Announces Dividend

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

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.