Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by Bard Financial Services Inc.

Bard Financial Services Inc. lessened its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 4.5% in the third quarter, Holdings Channel.com reports. The fund owned 280,975 shares of the pipeline company’s stock after selling 13,375 shares during the quarter. Bard Financial Services Inc.’s holdings in Plains GP were worth $5,198,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PAGP. CWM LLC lifted its stake in Plains GP by 61.0% during the second quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 1,147 shares during the period. SG Americas Securities LLC increased its holdings in shares of Plains GP by 85.6% during the second quarter. SG Americas Securities LLC now owns 92,808 shares of the pipeline company’s stock worth $1,747,000 after buying an additional 42,807 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Plains GP during the second quarter worth approximately $44,000. Hennessy Advisors Inc. increased its holdings in shares of Plains GP by 18.1% during the second 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, Unique Wealth Strategies LLC acquired a new stake in shares of Plains GP during the second quarter worth approximately $70,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PAGP shares. Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $19.00 in a report on Friday, October 25th. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Wolfe Research raised shares of Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.88.

Plains GP Stock Performance

NYSE PAGP opened at $19.08 on Wednesday. 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 market capitalization of $3.77 billion, a P/E ratio of 22.45 and a beta of 1.57. Plains GP Holdings, L.P. has a 12-month low of $14.93 and a 12-month high of $20.10. The firm has a 50-day moving average price of $18.61 and a two-hundred day moving average price of $18.67.

Plains GP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.3175 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a yield of 6.66%. Plains GP’s dividend payout ratio (DPR) is 149.41%.

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.