Plains GP Holdings, L.P. $PAGP Shares Sold by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH decreased its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 11.3% during the third quarter, HoldingsChannel reports. The firm owned 182,922 shares of the pipeline company’s stock after selling 23,302 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Plains GP were worth $4,738,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First Bancorp Inc ME bought a new position in Plains GP in the second quarter worth about $30,000. North Star Investment Management Corp. purchased a new stake in Plains GP in the first quarter worth about $56,000. Continuum Advisory LLC purchased a new stake in Plains GP in the second quarter worth about $61,000. Ameritas Advisory Services LLC purchased a new stake in Plains GP in the second quarter worth about $64,000. Finally, O Domhnaill Enterprises Inc. bought a new stake in Plains GP during the 1st quarter valued at approximately $66,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PAGP. Mizuho lifted their price objective on Plains GP from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, September 21st. Morgan Stanley increased their target price on Plains GP from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Barclays increased their target price on Plains GP from $23.00 to $24.00 and gave the stock an “underweight” rating in a research report on Monday, September 21st. UBS Group raised their target price on Plains GP from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, October 9th. Finally, Truist Financial raised their target price on Plains GP from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.33.

Plains GP Stock Performance

Shares of Plains GP stock opened at $27.17 on Friday. Plains GP Holdings, L.P. has a 12 month low of $16.82 and a 12 month high of $28.70. The firm has a market capitalization of $5.38 billion, a P/E ratio of 51.27 and a beta of 0.54. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $26.92 and a two-hundred day simple moving average of $25.32.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Friday, October 30th. Plains GP’s dividend payout ratio (DPR) is presently 59.86%.

Plains GP Company Profile

Plains GP Holdings, L.P. is a publicly traded holding company that owns interests in Plains All American Pipeline, L.P. Its business exposure is primarily derived from Plains All American, which operates energy infrastructure used to transport, store, gather and handle crude oil and natural gas liquids.

Through its ownership interests in Plains All American and its general partner structure, Plains GP Holdings provides investors with an indirect interest in the operations of one of North America’s major midstream energy companies.