Private Trust Co. NA Decreases Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Private Trust Co. NA lowered its position in Plains GP Holdings, L.P. (NYSE:PAGP) by 39.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,605 shares of the pipeline company’s stock after selling 1,665 shares during the quarter. Private Trust Co. NA’s holdings in Plains GP were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC purchased a new position in shares of Plains GP in the third quarter worth about $353,000. Algert Global LLC grew its position in Plains GP by 128.6% during the 3rd quarter. Algert Global LLC now owns 87,659 shares of the pipeline company’s stock worth $1,622,000 after acquiring an additional 49,320 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in Plains GP in the 3rd quarter worth approximately $13,848,000. Linscomb Wealth Inc. lifted its position 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 purchasing an additional 50,859 shares during the last quarter. Finally, Entropy Technologies LP boosted its stake 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 purchasing an additional 11,073 shares during the period. 88.30% of the stock is currently owned by institutional investors.

Plains GP Price Performance

PAGP stock opened at $20.02 on Friday. The firm has a 50-day moving average of $18.51 and a 200 day moving average of $18.62. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The company has a market cap of $3.95 billion, a P/E ratio of 23.55 and a beta of 1.54. Plains GP Holdings, L.P. has a 1 year low of $14.93 and a 1 year high of $20.10.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date was Thursday, October 31st. Plains GP’s payout ratio is presently 149.41%.

Wall Street Analyst Weigh In

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

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.