Advisors Asset Management Inc. Has $315,000 Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Advisors Asset Management Inc. lowered its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 25.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,038 shares of the pipeline company’s stock after selling 5,846 shares during the quarter. Advisors Asset Management Inc.’s holdings in Plains GP were worth $315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Linscomb Wealth Inc. grew its holdings in Plains GP by 19.4% in the 3rd quarter. Linscomb Wealth Inc. now owns 313,100 shares of the pipeline company’s stock valued at $5,792,000 after buying an additional 50,859 shares during the last quarter. Entropy Technologies LP boosted its position in shares of Plains GP by 29.9% in the third quarter. Entropy Technologies LP now owns 48,052 shares of the pipeline company’s stock valued at $889,000 after acquiring an additional 11,073 shares during the period. Oxbow Advisors LLC grew its stake in shares of Plains GP by 0.8% in the third quarter. Oxbow Advisors LLC now owns 667,892 shares of the pipeline company’s stock worth $12,356,000 after acquiring an additional 5,519 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Plains GP during the third quarter worth $3,144,000. Finally, Hara Capital LLC acquired a new position in Plains GP during the 3rd quarter valued at $57,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PAGP. Wolfe Research raised shares of Plains GP to a “hold” rating in a research report on Wednesday, September 18th. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and cut their target price for the company 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 issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.88.

Plains GP Stock Performance

Shares of NYSE:PAGP opened at $19.47 on Friday. The business has a fifty day moving average of $18.49 and a 200-day moving average of $18.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP Holdings, L.P. has a twelve month low of $14.93 and a twelve month high of $20.10. The firm has a market cap of $3.84 billion, a PE ratio of 22.91 and a beta of 1.54.

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 given a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 6.52%. The ex-dividend date was Thursday, October 31st. Plains GP’s payout ratio is presently 149.41%.

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.