XTX Topco Ltd Sells 5,497 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

XTX Topco Ltd trimmed its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 27.7% in the 3rd quarter, Holdings Channel reports. The fund owned 14,370 shares of the pipeline company’s stock after selling 5,497 shares during the quarter. XTX Topco Ltd’s holdings in Plains GP were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Tortoise Capital Advisors L.L.C. raised its stake in Plains GP by 6.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company’s stock valued at $219,572,000 after purchasing an additional 703,158 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of Plains GP by 2.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 5,393,558 shares of the pipeline company’s stock worth $101,507,000 after purchasing an additional 113,098 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of 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 valued at $80,900,000 after buying an additional 53,000 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Plains GP by 10.5% in the second quarter. Mackenzie Financial Corp now owns 1,804,713 shares of the pipeline company’s stock valued at $33,965,000 after buying an additional 171,217 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Plains GP by 8.5% during the third quarter. BNP Paribas Financial Markets now owns 1,313,974 shares of the pipeline company’s stock worth $24,309,000 after buying an additional 103,353 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Down 3.5 %

Shares of NYSE:PAGP opened at $18.15 on Thursday. The company has a market capitalization of $3.58 billion, a PE ratio of 21.35 and a beta of 1.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The company’s fifty day moving average is $18.65 and its 200-day moving average is $18.72. Plains GP Holdings, L.P. has a 52 week low of $15.51 and a 52 week high of $20.10.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.3175 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 annualized dividend and a yield of 7.00%. Plains GP’s dividend payout ratio is 149.41%.

Wall Street Analyst Weigh In

PAGP has been the subject of several recent research reports. Morgan Stanley cut Plains GP from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $19.00 in a report on Friday, October 25th. Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $22.00 to $20.00 in a research report on Wednesday. Wolfe Research upgraded shares of Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Finally, StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.88.

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.