US Bancorp DE Has $1.60 Million Position in Plains GP Holdings, L.P. (NYSE:PAGP)

US Bancorp DE grew its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,265 shares of the pipeline company’s stock after acquiring an additional 3,927 shares during the period. US Bancorp DE’s holdings in Plains GP were worth $1,596,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. SL Advisors LLC grew its position in Plains GP by 3.3% in the third quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company’s stock worth $394,000 after acquiring an additional 679 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Plains GP by 0.9% in the second quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company’s stock worth $1,407,000 after purchasing an additional 681 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Plains GP by 1.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock worth $720,000 after buying an additional 717 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Plains GP by 4.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,975 shares of the pipeline company’s stock valued at $319,000 after buying an additional 755 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in shares of Plains GP by 22.0% in the second quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the pipeline company’s stock worth $87,000 after buying an additional 833 shares during the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Plains GP Stock Performance

NYSE PAGP opened at $18.82 on Friday. The company’s fifty day moving average is $18.52 and its two-hundred day moving average is $18.58. Plains GP Holdings, L.P. has a 52-week low of $14.93 and a 52-week high of $20.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.90. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 22.67 and a beta of 1.54.

Plains GP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.3175 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 annualized dividend and a yield of 6.75%. Plains GP’s dividend payout ratio (DPR) is 153.01%.

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.