Chicago Partners Investment Group LLC Has $3.12 Million Stock Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Chicago Partners Investment Group LLC boosted its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 2.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 171,529 shares of the pipeline company’s stock after purchasing an additional 4,886 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Plains GP were worth $3,117,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PAGP. ORG Partners LLC purchased a new position in shares of Plains GP during the second quarter valued at $44,000. CWM LLC grew its stake in Plains GP by 61.0% during the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 1,147 shares in the last quarter. Unique Wealth Strategies LLC acquired a new position in shares of Plains GP in the 2nd quarter valued at about $70,000. Eastern Bank purchased a new stake in shares of Plains GP in the third quarter worth approximately $76,000. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Plains GP by 22.0% during the second quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the pipeline company’s stock worth $87,000 after purchasing an additional 833 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analyst Upgrades and Downgrades

PAGP has been the topic of several research reports. Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $19.00 in a research note on Friday, October 25th. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Wolfe Research upgraded Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.00.

Plains GP Trading Up 0.8 %

Shares of NYSE:PAGP opened at $17.33 on Friday. Plains GP Holdings, L.P. has a 1 year low of $14.93 and a 1 year high of $20.10. The firm has a fifty day moving average price of $18.58 and a 200 day moving average price of $18.59. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $3.42 billion, a PE ratio of 20.88 and a beta of 1.54.

Plains GP (NYSE:PAGP) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.11). Plains GP had a return on equity of 1.09% and a net margin of 0.33%. The company had revenue of $12.93 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same quarter last year, the company posted $0.25 EPS. Analysts expect that Plains GP Holdings, L.P. will post 1.2 EPS for the current fiscal year.

Plains GP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a yield of 7.33%. Plains GP’s payout ratio is currently 153.01%.

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.