Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP decreased its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 61.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,631 shares of the pipeline company’s stock after selling 64,251 shares during the quarter. GSA Capital Partners LLP’s holdings in Plains GP were worth $752,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. boosted its stake in Plains GP by 6.4% during 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 buying an additional 703,158 shares during the period. Chickasaw Capital Management LLC increased its holdings in Plains GP by 3.6% in the 2nd quarter. Chickasaw Capital Management LLC now owns 6,615,106 shares of the pipeline company’s stock valued at $124,496,000 after purchasing an additional 232,644 shares during the last quarter. Westwood Holdings Group Inc. raised its position in Plains GP by 2.1% in the second quarter. Westwood Holdings Group Inc. now owns 5,393,558 shares of the pipeline company’s stock valued at $101,507,000 after purchasing an additional 113,098 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in Plains GP by 1.2% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock worth $80,900,000 after purchasing an additional 53,000 shares in the last quarter. Finally, Hennessy Advisors Inc. boosted its position 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 during the period. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Morgan Stanley cut Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the company 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 report on Friday, November 8th. Finally, Wolfe Research upgraded shares of Plains GP to a “hold” rating in a report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.88.

Plains GP Trading Up 0.1 %

NYSE PAGP opened at $18.23 on Monday. Plains GP Holdings, L.P. has a 52 week low of $14.93 and a 52 week high of $20.10. The firm has a 50 day moving average of $18.43 and a two-hundred day moving average of $18.56. The stock has a market capitalization of $3.60 billion, a PE ratio of 21.45 and a beta of 1.54. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 6.97%. The ex-dividend date was Thursday, October 31st. Plains GP’s payout ratio is currently 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.