D.A. Davidson & CO. Decreases Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

D.A. Davidson & CO. cut its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 28.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 50,331 shares of the pipeline company’s stock after selling 19,729 shares during the quarter. D.A. Davidson & CO.’s holdings in Plains GP were worth $931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. ORG Partners LLC acquired a new stake in Plains GP during the 2nd quarter worth about $44,000. CWM LLC raised its stake in shares of Plains GP by 61.0% in the second quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 1,147 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of Plains GP during the third quarter worth about $57,000. Unique Wealth Strategies LLC purchased a new stake in Plains GP in the second quarter valued at approximately $70,000. Finally, Eastern Bank acquired a new position in Plains GP in the 3rd quarter worth approximately $76,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Wolfe Research upgraded Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Two equities 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. According to data from MarketBeat, Plains GP presently has an average rating of “Hold” and a consensus target price of $19.88.

Plains GP Trading Up 2.8 %

Shares of Plains GP stock opened at $20.02 on Monday. 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. The company has a market cap of $3.95 billion, a P/E ratio of 23.55 and a beta of 1.54. The firm has a 50-day simple moving average of $18.51 and a two-hundred day simple moving average of $18.62.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given 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 yield of 6.34%. Plains GP’s dividend payout ratio is currently 149.41%.

Plains GP Company 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.