Insider Selling: Plains GP Holdings LP (PAGP) Director Sells 20,000 Shares of Stock

Plains GP Holdings LP (NYSE:PAGP) Director Everardo Goyanes sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $24.60, for a total transaction of $492,000.00. Following the completion of the sale, the director now owns 32,305 shares in the company, valued at approximately $794,703. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of NYSE PAGP opened at $24.47 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.84 and a current ratio of 1.02. The stock has a market cap of $3.90 billion, a PE ratio of 8.77 and a beta of 1.20. Plains GP Holdings LP has a 12-month low of $19.17 and a 12-month high of $27.00.

Plains GP (NYSE:PAGP) last announced its earnings results on Tuesday, May 7th. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.49. The firm had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $10.54 billion. Plains GP had a net margin of 1.31% and a return on equity of 3.41%. The business’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS. As a group, sell-side analysts expect that Plains GP Holdings LP will post 1.66 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.88%. This is a boost from Plains GP’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, April 30th. Plains GP’s dividend payout ratio is currently 68.25%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors purchased a new stake in Plains GP in the 4th quarter worth about $53,000. Squar Milner Financial Services LLC purchased a new stake in Plains GP in the 1st quarter worth about $85,000. Cresset Asset Management LLC purchased a new stake in Plains GP in the 1st quarter worth about $92,000. Daiwa Securities Group Inc. raised its position in Plains GP by 550.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,200 shares of the pipeline company’s stock worth $105,000 after purchasing an additional 4,400 shares during the period. Finally, O Shaughnessy Asset Management LLC purchased a new stake in Plains GP in the 1st quarter worth about $145,000. Hedge funds and other institutional investors own 84.65% of the company’s stock.

Several analysts have commented on PAGP shares. ValuEngine cut shares of Plains GP from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 7th. Zacks Investment Research cut shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. Evercore ISI assumed coverage on shares of Plains GP in a research note on Tuesday, February 5th. They issued a $24.00 price target on the stock. Finally, TheStreet upgraded shares of Plains GP from a “c” rating to a “b-” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $28.57.

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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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