Plato Investment Management Ltd Sells 13,662 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Plato Investment Management Ltd reduced its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 48.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,666 shares of the pipeline company’s stock after selling 13,662 shares during the quarter. Plato Investment Management Ltd’s holdings in Plains GP were worth $271,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. SL Advisors LLC grew its position in shares of Plains GP by 3.3% in the 3rd quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company’s stock worth $394,000 after buying an additional 679 shares during the period. NewEdge Advisors LLC grew its holdings in Plains GP by 0.9% in the second quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company’s stock worth $1,407,000 after purchasing an additional 681 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Plains GP by 1.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 717 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Plains GP by 4.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,975 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 755 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its position in shares of Plains GP by 22.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the pipeline company’s stock worth $87,000 after purchasing an additional 833 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PAGP shares. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Wolfe Research upgraded Plains GP to a “hold” rating in a report on Wednesday, September 18th. Finally, Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Plains GP presently has a consensus rating of “Hold” and an average target price of $19.88.

Plains GP Stock Up 0.1 %

Shares of Plains GP stock opened at $18.23 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a twelve month low of $14.93 and a twelve month high of $20.10. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 21.53 and a beta of 1.54. The company’s 50 day moving average is $18.44 and its 200 day moving average is $18.56.

Plains GP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.3175 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.97%. Plains GP’s dividend payout ratio (DPR) is currently 149.41%.

Plains GP Profile

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream infrastructure systems in the United States and Canada. It operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the gathering and transporting crude oil and NGLs using pipelines, gathering systems, and trucks.