Plains GP Holdings, L.P. $PAGP Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC decreased its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 14.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,689 shares of the pipeline company’s stock after selling 29,234 shares during the period. Exchange Traded Concepts LLC owned about 0.09% of Plains GP worth $3,248,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of PAGP. Whittier Trust Co. of Nevada Inc. boosted its holdings in Plains GP by 56.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,781 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 645 shares during the period. Larson Financial Group LLC purchased a new stake in Plains GP during the 3rd quarter worth about $46,000. Lazard Asset Management LLC increased its holdings in Plains GP by 36.5% during the 2nd quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock worth $58,000 after purchasing an additional 811 shares during the period. Asset Dedication LLC acquired a new stake in Plains GP in the 2nd quarter valued at about $83,000. Finally, CWM LLC raised its position in Plains GP by 159.3% in the 3rd quarter. CWM LLC now owns 7,477 shares of the pipeline company’s stock valued at $136,000 after purchasing an additional 4,594 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Price Performance

Shares of NYSE PAGP opened at $24.28 on Wednesday. The stock’s 50-day simple moving average is $22.30 and its 200-day simple moving average is $19.76. The firm has a market capitalization of $4.81 billion, a PE ratio of 45.81 and a beta of 0.56. Plains GP Holdings, L.P. has a fifty-two week low of $16.60 and a fifty-two week high of $24.75. 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 business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a $0.4175 dividend. The ex-dividend date was Friday, January 30th. This represents a $1.67 annualized dividend and a dividend yield of 6.9%. Plains GP’s dividend payout ratio is presently 129.46%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Barclays boosted their price objective on Plains GP from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, February 9th. Stifel Nicolaus raised their target price on shares of Plains GP from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, March 6th. Mizuho set a $23.00 price target on shares of Plains GP in a research note on Friday, January 23rd. Wells Fargo & Company boosted their price target on shares of Plains GP from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Finally, Bank of America downgraded shares of Plains GP from a “neutral” rating to an “underperform” rating and set a $19.00 price objective on the stock. in a research report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Plains GP presently has an average rating of “Hold” and an average price target of $21.60.

About Plains GP

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.