Energy Income Partners LLC recently announced the acquisition of new stake in Plains GP Holdings LP (NASDAQ:PAGP). The institutional investor has increased its shareholding in the Energy company by 4.25% to 13.77 million shares with purchase of 0.56 million shares. This fresh investment now brings its stake to 7.01% valued currently at $219.6 million. In addition, First Trust Advisors LP raised its holdings by 10.19 million to 10.36 million shares. And Chickasaw Capital Management LLC has lifted its position by 6.92% or 0.43 million shares – to 6.63 million shares.
Currently, there are 194.41M common shares owned by the public and among those 191.10M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 18 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 276,350 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Plains GP Holdings LP are First Trust North American Energy, Tortoise Energy Infrastructure To, and MFS Mid Cap Value Fund. First Trust North American Energy owns 8.4 million shares of the company’s stock, all valued at over $133.91 million. Tortoise Energy Infrastructure To sold -0.27 million shares to see its total holdings shrink to 8.12 million shares valued at over $129.48 million and representing 4.13% of the shares outstanding. MFS Mid Cap Value Fund sold 13417.0 shares to bring its total holdings to over 6.86 million shares at a value of $109.4 million. MFS Mid Cap Value Fund now owns shares totaling to 3.49% of the shares outstanding.
However, the script later moved the day high at 16.71, down -1.56%. The company’s stock has a 5-day price change of 0.18% and 1.92% over the past three months. PAGP shares are trading 3.07% year to date (YTD), with the 12-month market performance up to 26.07% higher. It has a 12-month low price of $11.79 and touched a high of $16.77 over the same period. PAGP has an average intraday trading volume of 2.14 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.59%, 3.30%, and 8.05% respectively.
Institutional ownership of Plains GP Holdings LP (NASDAQ: PAGP) shares accounts for 91.67% of the company’s 194.41M shares outstanding. Mutual fund holders own 50.82%, while other institutional holders and individual stakeholders account for 7.88% and 40.93% respectively.
It has a market capitalization of $3.23B and a beta (3y monthly) value of 1.51. The stock’s trailing 12-month PE ratio is 20.23, while the earnings-per-share (ttm) stands at $0.81. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.74% over the week and 1.41% over the month.
Analysts forecast that Plains GP Holdings LP (PAGP) will achieve an EPS of $0.34 for the current quarter, $0.36 for the next quarter and $1.35 for 2024. The lowest estimate earnings-per-share for the quarter is $0.23 while analysts give the company a high EPS estimate of $0.46. Comparatively, EPS for the current quarter was $0.33 a year ago. Earnings per share for the fiscal year are expected to increase by 45.04%, and 26.95% over the next financial year.
Looking at the support for the PAGP, a number of firms have released research notes about the stock. Goldman stated their Sell rating for the stock in a research note on October 06, 2023, with the firm’s price target at $13.50.
