Sound Income Strategies LLC acquired a new stake in shares of Plains GP Holdings LP (NYSE:PAGP) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,821 shares of the pipeline company’s stock, valued at approximately $37,000.
Several other hedge funds have also modified their holdings of PAGP. Franklin Square Holdings L.P. lifted its stake in shares of Plains GP by 58.8% during the 2nd quarter. Franklin Square Holdings L.P. now owns 63,720 shares of the pipeline company’s stock valued at $1,524,000 after buying an additional 23,600 shares in the last quarter. Worldquant Millennium Quantitative Strategies LLC purchased a new stake in Plains GP in the 2nd quarter worth $10,333,000. Robeco Institutional Asset Management B.V. lifted its stake in Plains GP by 298.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 735,431 shares of the pipeline company’s stock worth $18,039,000 after purchasing an additional 550,829 shares in the last quarter. Chickasaw Capital Management LLC lifted its stake in Plains GP by 4.6% in the 3rd quarter. Chickasaw Capital Management LLC now owns 7,522,308 shares of the pipeline company’s stock worth $184,522,000 after purchasing an additional 330,003 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Plains GP by 61.1% in the 3rd quarter. SG Americas Securities LLC now owns 46,828 shares of the pipeline company’s stock worth $1,149,000 after purchasing an additional 17,762 shares in the last quarter. 85.83% of the stock is owned by hedge funds and other institutional investors.
In other Plains GP news, Director Oscar K. Brown purchased 2,500 shares of the stock in a transaction dated Friday, November 23rd. The stock was purchased at an average price of $20.42 per share, with a total value of $51,050.00. Following the transaction, the director now owns 9,600 shares of the company’s stock, valued at $196,032. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Oscar K. Brown purchased 4,400 shares of the stock in a transaction dated Thursday, December 27th. The stock was acquired at an average cost of $19.54 per share, with a total value of $85,976.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $214,940. The disclosure for this purchase can be found here. Insiders acquired a total of 7,900 shares of company stock worth $156,846 over the last 90 days. Insiders own 16.80% of the company’s stock.
Shares of NYSE:PAGP opened at $23.17 on Friday. The stock has a market cap of $3.83 billion, a P/E ratio of 35.65 and a beta of 1.16. Plains GP Holdings LP has a 12 month low of $19.17 and a 12 month high of $27.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.71 and a current ratio of 0.89.
Plains GP (NYSE:PAGP) last issued its quarterly earnings results on Tuesday, November 6th. The pipeline company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.36 by $0.34. The company had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $7.37 billion. Plains GP had a negative net margin of 1.96% and a positive return on equity of 1.43%. The firm’s revenue was up 49.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. On average, equities analysts forecast that Plains GP Holdings LP will post 1.49 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Thursday, January 31st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, January 30th. This represents a $1.20 dividend on an annualized basis and a yield of 5.18%. Plains GP’s dividend payout ratio is currently 184.62%.
About Plains GP
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.
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