Plato Investment Management Ltd Has $271,000 Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Plato Investment Management Ltd reduced its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 48.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 14,666 shares of the pipeline company’s stock after selling 13,662 shares during the period. Plato Investment Management Ltd’s holdings in Plains GP were worth $271,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Entropy Technologies LP increased its position in shares of Plains GP by 29.9% during 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 last quarter. Oxbow Advisors LLC grew its stake in Plains GP by 0.8% in the 3rd quarter. Oxbow Advisors LLC now owns 667,892 shares of the pipeline company’s stock valued at $12,356,000 after purchasing an additional 5,519 shares during the period. CWA Asset Management Group LLC purchased a new stake in shares of Plains GP during the 3rd quarter valued at $3,144,000. Hara Capital LLC bought a new stake in shares of Plains GP during the 3rd quarter worth $57,000. Finally, HF Advisory Group LLC boosted its holdings in shares of Plains GP by 2.8% in the 3rd quarter. HF Advisory Group LLC now owns 105,367 shares of the pipeline company’s stock worth $1,949,000 after buying an additional 2,906 shares during the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PAGP has been the subject of a number of research analyst reports. Morgan Stanley downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Wolfe Research upgraded Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.88.

Plains GP Trading Up 0.1 %

Shares of PAGP opened at $18.23 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.90. Plains GP Holdings, L.P. has a 1-year low of $14.93 and a 1-year high of $20.10. The company has a market capitalization of $3.60 billion, a P/E ratio of 21.53 and a beta of 1.54. The firm’s 50 day simple moving average is $18.44 and its 200 day simple moving average is $18.56.

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 issued a dividend of $0.3175 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.97%. Plains GP’s dividend payout ratio is 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.