Tower Research Capital LLC TRC Sells 7,601 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Tower Research Capital LLC TRC decreased its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 81.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,695 shares of the pipeline company’s stock after selling 7,601 shares during the period. Tower Research Capital LLC TRC’s holdings in Plains GP were worth $27,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in Plains GP by 88.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,772,217 shares of the pipeline company’s stock valued at $60,167,000 after purchasing an additional 1,774,438 shares in the last quarter. Chickasaw Capital Management LLC raised its stake in Plains GP by 6.9% during the fourth quarter. Chickasaw Capital Management LLC now owns 6,632,388 shares of the pipeline company’s stock worth $105,787,000 after acquiring an additional 429,179 shares in the last quarter. Requisite Capital Management LLC grew its holdings in shares of Plains GP by 36.1% in the 3rd quarter. Requisite Capital Management LLC now owns 58,783 shares of the pipeline company’s stock worth $948,000 after purchasing an additional 15,591 shares during the last quarter. Cambria Investment Management L.P. lifted its holdings in Plains GP by 7.1% during the 3rd quarter. Cambria Investment Management L.P. now owns 707,543 shares of the pipeline company’s stock valued at $11,406,000 after purchasing an additional 46,844 shares during the last quarter. Finally, ProVise Management Group LLC grew its stake in Plains GP by 13.0% during the third quarter. ProVise Management Group LLC now owns 333,584 shares of the pipeline company’s stock worth $5,377,000 after buying an additional 38,407 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PAGP has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Monday, March 4th. Barclays increased their target price on Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a report on Friday, April 12th. Citigroup increased their price objective on shares of Plains GP from $16.50 to $17.50 and gave the stock a “neutral” rating in a report on Friday, March 1st. UBS Group upped their target price on shares of Plains GP from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, The Goldman Sachs Group upped their price objective on Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Plains GP presently has an average rating of “Moderate Buy” and a consensus target price of $19.55.

Plains GP Trading Up 1.9 %

NYSE PAGP traded up $0.34 during trading on Friday, reaching $18.40. 2,961,630 shares of the stock traded hands, compared to its average volume of 2,189,590. The stock’s 50-day moving average price is $18.13 and its 200 day moving average price is $16.81. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 18.04 and a beta of 1.53. Plains GP Holdings, L.P. has a fifty-two week low of $12.59 and a fifty-two week high of $19.77.

Plains GP (NYSE:PAGP) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.06). Plains GP had a return on equity of 1.33% and a net margin of 0.41%. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.88 billion. Analysts predict that Plains GP Holdings, L.P. will post 1.05 EPS for the current year.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.3175 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 annualized dividend and a yield of 6.90%. Plains GP’s dividend payout ratio is currently 124.51%.

Plains GP Company 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.