Gilman Hill Asset Management LLC Sells 1,830 Shares of Plains GP Holdings, L.P. $PAGP

Gilman Hill Asset Management LLC decreased its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 281,144 shares of the pipeline company’s stock after selling 1,830 shares during the period. Gilman Hill Asset Management LLC owned about 0.14% of Plains GP worth $5,463,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PAGP. Catalyst Capital Advisors LLC increased its stake in shares of Plains GP by 18.0% during the first quarter. Catalyst Capital Advisors LLC now owns 885,873 shares of the pipeline company’s stock worth $18,922,000 after purchasing an additional 134,943 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Plains GP by 15.8% during the first quarter. Envestnet Asset Management Inc. now owns 329,813 shares of the pipeline company’s stock worth $7,045,000 after purchasing an additional 44,948 shares during the period. Cetera Investment Advisers increased its stake in shares of Plains GP by 7.4% during the first quarter. Cetera Investment Advisers now owns 194,723 shares of the pipeline company’s stock worth $4,159,000 after purchasing an additional 13,424 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Plains GP by 434.4% during the first quarter. Janney Montgomery Scott LLC now owns 196,584 shares of the pipeline company’s stock worth $4,199,000 after purchasing an additional 159,795 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Plains GP by 70.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 110,504 shares of the pipeline company’s stock worth $2,360,000 after purchasing an additional 45,577 shares during the period. Institutional investors own 88.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Zacks Research lowered Plains GP from a “strong-buy” rating to a “hold” rating in a research note on Monday. Mizuho increased their target price on Plains GP from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 18th. Morgan Stanley lowered their target price on Plains GP from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. JPMorgan Chase & Co. raised their price objective on Plains GP from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 18th. Finally, Wolfe Research restated a “peer perform” rating on shares of Plains GP in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Plains GP presently has a consensus rating of “Hold” and an average price target of $20.50.

Plains GP Price Performance

Plains GP stock opened at $18.67 on Wednesday. The stock’s fifty day moving average price is $19.19 and its two-hundred day moving average price is $19.21. Plains GP Holdings, L.P. has a one year low of $16.60 and a one year high of $22.31. 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 firm has a market cap of $3.69 billion, a PE ratio of 35.23 and a beta of 0.76.

Plains GP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend was Thursday, July 31st. Plains GP’s dividend payout ratio (DPR) is currently 220.29%.

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.