Private Trust Co. NA Cuts Position in Plains GP Holdings, L.P. (NYSE:PAGP)

Private Trust Co. NA cut its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 39.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,605 shares of the pipeline company’s stock after selling 1,665 shares during the quarter. Private Trust Co. NA’s holdings in Plains GP were worth $48,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. ORG Partners LLC purchased a new position in Plains GP in the second quarter worth about $44,000. CWM LLC raised its holdings in Plains GP by 61.0% in the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock worth $57,000 after acquiring an additional 1,147 shares during the last quarter. Hara Capital LLC purchased a new stake in Plains GP during the 3rd quarter valued at $57,000. Unique Wealth Strategies LLC bought a new stake in shares of Plains GP in the 2nd quarter worth $70,000. Finally, Eastern Bank purchased a new position in shares of Plains GP in the third quarter worth $76,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Trading Up 2.8 %

Shares of Plains GP stock opened at $20.02 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The stock has a market capitalization of $3.95 billion, a PE ratio of 23.55 and a beta of 1.54. Plains GP Holdings, L.P. has a 1-year low of $14.93 and a 1-year high of $20.10. The company’s fifty day simple moving average is $18.51 and its 200-day simple moving average is $18.62.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 6.34%. The ex-dividend date was Thursday, October 31st. Plains GP’s dividend payout ratio is presently 149.41%.

Wall Street Analysts Forecast Growth

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

About Plains GP

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.