Barclays PLC Decreases Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Barclays PLC lessened its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 5.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 825,497 shares of the pipeline company’s stock after selling 45,199 shares during the quarter. Barclays PLC’s holdings in Plains GP were worth $15,273,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. increased its position in 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 worth $219,572,000 after purchasing an additional 703,158 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of 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 worth $101,507,000 after buying an additional 113,098 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of 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 valued at $80,900,000 after buying an additional 53,000 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in shares of Plains GP by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,822,200 shares of the pipeline company’s stock valued at $34,294,000 after acquiring an additional 279,100 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in Plains GP by 10.5% in the second quarter. Mackenzie Financial Corp now owns 1,804,713 shares of the pipeline company’s stock worth $33,965,000 after acquiring an additional 171,217 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PAGP shares. Wolfe Research upgraded Plains GP to a “hold” rating in a research report on Wednesday, September 18th. StockNews.com upgraded 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 lowered their price target for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Two 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.88.

Plains GP Price Performance

PAGP opened at $19.13 on Monday. 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 business has a fifty day moving average of $18.65 and a 200 day moving average of $18.71. Plains GP Holdings, L.P. has a 52-week low of $15.25 and a 52-week high of $20.10. The stock has a market cap of $3.78 billion, a P/E ratio of 22.51 and a beta of 1.57.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date of this dividend 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.