National Bank of Canada FI Has $33,000 Position in Plains GP Holdings, L.P. (NYSE:PAGP)

National Bank of Canada FI lessened its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 50.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,780 shares of the pipeline company’s stock after selling 1,820 shares during the period. National Bank of Canada FI’s holdings in Plains GP were worth $33,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Insigneo Advisory Services LLC bought a new stake in shares of Plains GP during the third quarter valued at approximately $188,000. State Street Corp boosted its position in Plains GP by 17.1% in the 3rd quarter. State Street Corp now owns 640,918 shares of the pipeline company’s stock valued at $11,857,000 after buying an additional 93,643 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Plains GP by 13.0% in the 3rd quarter. Stifel Financial Corp now owns 687,257 shares of the pipeline company’s stock valued at $12,714,000 after buying an additional 78,845 shares during the period. IHT Wealth Management LLC bought a new stake in shares of Plains GP during the third quarter worth $222,000. Finally, Captrust Financial Advisors lifted its stake in shares of Plains GP by 4.0% during the third quarter. Captrust Financial Advisors now owns 57,596 shares of the pipeline company’s stock valued at $1,066,000 after acquiring an additional 2,241 shares during the period. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Price Performance

PAGP opened at $18.15 on Thursday. The stock has a market cap of $3.58 billion, a P/E ratio of 21.35 and a beta of 1.57. Plains GP Holdings, L.P. has a 12 month low of $15.51 and a 12 month high of $20.10. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The company has a fifty day simple moving average of $18.65 and a 200 day simple moving average of $18.72.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.00%. The ex-dividend date was Thursday, October 31st. Plains GP’s dividend payout ratio is currently 149.41%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wolfe Research raised Plains GP to a “hold” rating in a report on Wednesday, September 18th. Wells Fargo & Company lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $22.00 to $20.00 in a report on Wednesday. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Morgan Stanley downgraded Plains GP from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock 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.