Pathstone Holdings LLC Has $11.55 Million Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Pathstone Holdings LLC increased its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 624,484 shares of the pipeline company’s stock after buying an additional 838 shares during the period. Pathstone Holdings LLC’s holdings in Plains GP were worth $11,553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAGP. Linscomb Wealth Inc. increased its stake in Plains GP by 19.4% in the third quarter. Linscomb Wealth Inc. now owns 313,100 shares of the pipeline company’s stock valued at $5,792,000 after acquiring an additional 50,859 shares during the last quarter. Entropy Technologies LP increased its stake in Plains GP by 29.9% in 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 increased its stake in Plains GP by 0.8% in the third quarter. Oxbow Advisors LLC now owns 667,892 shares of the pipeline company’s stock valued at $12,356,000 after acquiring an additional 5,519 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Plains GP in the third quarter valued at approximately $3,144,000. Finally, Hara Capital LLC bought a new position in Plains GP in the third quarter valued at approximately $57,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Plains GP Stock Performance

NYSE PAGP opened at $18.81 on Thursday. The firm’s fifty day moving average price is $18.44 and its two-hundred day moving average price is $18.57. The stock has a market cap of $3.71 billion, a PE ratio of 22.13 and a beta of 1.54. Plains GP Holdings, L.P. has a fifty-two week low of $14.93 and a fifty-two week high of $20.10. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 6.75%. Plains GP’s dividend payout ratio (DPR) is presently 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.