Swiss National Bank lowered its holdings in Plains GP Holdings LP (NYSE:PAGP) by 3.1% in the second quarter, Holdings Channel reports. The firm owned 640,715 shares of the pipeline company’s stock after selling 20,200 shares during the quarter. Swiss National Bank’s holdings in Plains GP were worth $15,999,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in PAGP. IFM Investors Pty Ltd acquired a new position in shares of Plains GP during the first quarter worth approximately $231,000. Duff & Phelps Investment Management Co. lifted its position in shares of Plains GP by 106.5% during the first quarter. Duff & Phelps Investment Management Co. now owns 24,024 shares of the pipeline company’s stock worth $599,000 after purchasing an additional 12,390 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Plains GP by 97.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 9,319 shares of the pipeline company’s stock worth $232,000 after purchasing an additional 4,591 shares in the last quarter. Squar Milner Financial Services LLC acquired a new position in shares of Plains GP during the first quarter worth approximately $85,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Plains GP by 17.8% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 75,179 shares of the pipeline company’s stock worth $1,873,000 after purchasing an additional 11,352 shares in the last quarter. 86.93% of the stock is owned by institutional investors and hedge funds.
In related news, insider Emg Investment, Llc sold 7,328,291 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $23.10, for a total value of $169,283,522.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 16.31% of the company’s stock.
Shares of NYSE PAGP opened at $21.42 on Friday. The company’s 50 day simple moving average is $23.78 and its 200 day simple moving average is $24.03. Plains GP Holdings LP has a fifty-two week low of $19.17 and a fifty-two week high of $26.99. The firm has a market capitalization of $3.79 billion, a P/E ratio of 10.15 and a beta of 1.15. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.00 and a quick ratio of 0.87.
Plains GP (NYSE:PAGP) last announced its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.08. Plains GP had a net margin of 1.47% and a return on equity of 3.71%. The business had revenue of $8.25 billion for the quarter, compared to analyst estimates of $7.87 billion. During the same period in the prior year, the business posted $0.05 earnings per share. Plains GP’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Plains GP Holdings LP will post 2.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $1.44 annualized dividend and a yield of 6.72%. Plains GP’s dividend payout ratio is currently 68.25%.
Plains GP Company Profile
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.
Recommended Story: How do CD ladders protect against rising interest rates?
Want to see what other hedge funds are holding PAGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plains GP Holdings LP (NYSE:PAGP).
Receive News & Ratings for Plains GP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains GP and related companies with MarketBeat.com's FREE daily email newsletter.