Oxbow Advisors LLC Sells 3,985 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Oxbow Advisors LLC decreased its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 662,373 shares of the pipeline company’s stock after selling 3,985 shares during the quarter. Plains GP comprises approximately 1.5% of Oxbow Advisors LLC’s investment portfolio, making the stock its 12th largest position. Oxbow Advisors LLC’s holdings in Plains GP were worth $12,466,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PAGP. Mather Group LLC. bought a new stake in shares of Plains GP during the 1st quarter valued at about $44,000. ORG Partners LLC acquired a new position in Plains GP in the second quarter valued at approximately $44,000. CWM LLC boosted its holdings in shares of Plains GP by 61.0% during the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock worth $57,000 after buying an additional 1,147 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Plains GP by 22.0% during the 1st quarter. Spire Wealth Management now owns 3,740 shares of the pipeline company’s stock worth $68,000 after buying an additional 674 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its position in shares of Plains GP by 35.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 3,791 shares of the pipeline company’s stock worth $69,000 after buying an additional 1,001 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

PAGP has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Plains GP from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Plains GP has an average rating of “Moderate Buy” and an average target price of $20.11.

Plains GP Stock Down 1.2 %

Shares of Plains GP stock traded down $0.22 during trading hours on Friday, reaching $18.65. The company’s stock had a trading volume of 1,214,866 shares, compared to its average volume of 1,837,663. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.90 and a current ratio of 1.00. The stock’s fifty day simple moving average is $19.08 and its two-hundred day simple moving average is $18.42. The company has a market capitalization of $3.68 billion, a P/E ratio of 21.19 and a beta of 1.53. Plains GP Holdings, L.P. has a one year low of $14.71 and a one year high of $20.10.

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 analysts’ consensus estimates of $0.31 by ($0.11). The company had revenue of $12.93 billion for the quarter, compared to analyst estimates of $13.70 billion. Plains GP had a net margin of 0.33% and a return on equity of 1.09%. During the same quarter last year, the firm posted $0.25 EPS. On average, research analysts forecast that Plains GP Holdings, L.P. will post 1.24 earnings per share for the current year.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a dividend of $0.3175 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.27 annualized dividend and a yield of 6.81%. Plains GP’s dividend payout ratio (DPR) is currently 144.32%.

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.