GSA Capital Partners LLP Lowers Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

GSA Capital Partners LLP reduced its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 61.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,631 shares of the pipeline company’s stock after selling 64,251 shares during the period. GSA Capital Partners LLP’s holdings in Plains GP were worth $752,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. ORG Partners LLC acquired a new stake in Plains GP in the 2nd quarter valued at $44,000. CWM LLC lifted its holdings in Plains GP by 61.0% during the second quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock valued at $57,000 after purchasing an additional 1,147 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of Plains GP in the third quarter valued at about $57,000. Unique Wealth Strategies LLC purchased a new stake in shares of Plains GP during the second quarter worth about $70,000. Finally, Eastern Bank acquired a new position in shares of Plains GP during the 3rd quarter worth about $76,000. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Plains GP Price Performance

PAGP stock opened at $18.23 on Monday. Plains GP Holdings, L.P. has a 1 year low of $14.93 and a 1 year high of $20.10. The firm has a market capitalization of $3.60 billion, a PE ratio of 21.45 and a beta of 1.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.90. The business has a 50 day simple moving average of $18.43 and a 200-day simple moving average of $18.56.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.3175 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 6.97%. Plains GP’s dividend payout ratio is presently 149.41%.

Wall Street Analysts Forecast Growth

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

Plains GP Company 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.