D.A. Davidson & CO. Trims Position in Plains GP Holdings, L.P. (NYSE:PAGP)

D.A. Davidson & CO. decreased its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 28.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,331 shares of the pipeline company’s stock after selling 19,729 shares during the quarter. D.A. Davidson & CO.’s holdings in Plains GP were worth $931,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new stake in shares of Plains GP in the second quarter valued at approximately $44,000. CWM LLC lifted its holdings in shares of 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 buying an additional 1,147 shares during the period. Hara Capital LLC bought a new position in shares of Plains GP during the 3rd quarter worth $57,000. Unique Wealth Strategies LLC purchased a new position in shares of Plains GP during the second quarter valued at $70,000. Finally, Eastern Bank bought a new stake in shares of Plains GP in the third quarter valued at about $76,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Price Performance

Shares of PAGP opened at $20.02 on Monday. The company has a 50 day moving average of $18.51 and a two-hundred day moving average of $18.62. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 23.55 and a beta of 1.54. The company has a quick ratio of 0.92, 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.

Plains GP Announces Dividend

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

Analysts Set New Price Targets

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