Koch Industries Inc. raised its holdings in Plains GP Holdings LP (NYSE:PAGP) by 17.3% in the fourth quarter, Holdings Channel reports. The fund owned 22,290 shares of the pipeline company’s stock after acquiring an additional 3,285 shares during the quarter. Koch Industries Inc.’s holdings in Plains GP were worth $489,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of PAGP. Parametric Portfolio Associates LLC lifted its stake in Plains GP by 29.7% in the second quarter. Parametric Portfolio Associates LLC now owns 26,704 shares of the pipeline company’s stock valued at $699,000 after acquiring an additional 6,120 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Plains GP by 11.4% in the second quarter. The Manufacturers Life Insurance Company now owns 4,166 shares of the pipeline company’s stock valued at $109,000 after acquiring an additional 428 shares during the last quarter. California State Teachers Retirement System acquired a new stake in Plains GP in the second quarter valued at approximately $327,000. Raymond James Financial Services Advisors Inc. lifted its stake in Plains GP by 35.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 44,743 shares of the pipeline company’s stock valued at $979,000 after acquiring an additional 11,696 shares during the last quarter. Finally, Andra AP fonden raised its position in shares of Plains GP by 17.7% in the third quarter. Andra AP fonden now owns 107,200 shares of the pipeline company’s stock valued at $2,344,000 after purchasing an additional 16,125 shares during the period. Hedge funds and other institutional investors own 84.22% of the company’s stock.
In related news, Director Oscar K. Brown bought 7,100 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average price of $22.51 per share, with a total value of $159,821.00. Following the completion of the transaction, the director now owns 7,100 shares of the company’s stock, valued at approximately $159,821. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 39.93% of the company’s stock.
Plains GP Holdings LP (PAGP) opened at $21.97 on Friday. Plains GP Holdings LP has a 52-week low of $18.98 and a 52-week high of $32.24. The stock has a market cap of $6,340.00, a price-to-earnings ratio of 32.79 and a beta of 1.35. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.73 and a current ratio of 0.88.
Plains GP (NYSE:PAGP) last announced its earnings results on Tuesday, February 6th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.25). Plains GP had a positive return on equity of 0.73% and a negative net margin of 2.79%. The company had revenue of $7.61 billion for the quarter, compared to the consensus estimate of $4.91 billion. analysts expect that Plains GP Holdings LP will post 1.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date was Tuesday, January 30th. Plains GP’s dividend payout ratio (DPR) is currently 179.10%.
Plains GP Profile
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.
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