UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $7.81 Million Position in Plains GP Holdings, L.P. (NYSE:PAGP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 422,075 shares of the pipeline company’s stock after selling 11,021 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Plains GP were worth $7,808,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Plains GP by 6.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company’s stock valued at $219,572,000 after purchasing an additional 703,158 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in Plains GP by 2.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 5,393,558 shares of the pipeline company’s stock valued at $101,507,000 after buying an additional 113,098 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in Plains GP by 1.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock worth $80,900,000 after buying an additional 53,000 shares in the last quarter. Hennessy Advisors Inc. lifted its position in Plains GP by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,822,200 shares of the pipeline company’s stock worth $34,294,000 after buying an additional 279,100 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Plains GP by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 1,804,713 shares of the pipeline company’s stock worth $33,965,000 after buying an additional 171,217 shares during the last quarter. Institutional investors own 88.30% of the company’s stock.

Plains GP Stock Down 1.5 %

PAGP stock opened at $19.29 on Tuesday. Plains GP Holdings, L.P. has a 1-year low of $14.93 and a 1-year high of $20.10. The business’s 50 day simple moving average is $18.61 and its 200 day simple moving average is $18.67. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $3.81 billion, a PE ratio of 22.69 and a beta of 1.57.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.3175 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 6.58%. Plains GP’s dividend payout ratio is currently 149.41%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PAGP shares. Wolfe Research raised Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Morgan Stanley cut Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two equities research 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 company presently has a consensus rating of “Hold” and a consensus price target of $19.88.

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.