Harbour Trust & Investment Management Co Lowers Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Harbour Trust & Investment Management Co lessened its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 15.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,620 shares of the pipeline company’s stock after selling 2,055 shares during the period. Harbour Trust & Investment Management Co’s holdings in Plains GP were worth $214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of PAGP. Continuum Advisory LLC raised its stake in shares of Plains GP by 10.0% during the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock worth $127,000 after buying an additional 637 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Plains GP by 1.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock worth $720,000 after acquiring an additional 717 shares during the period. Townsquare Capital LLC lifted its holdings in Plains GP by 1.2% during the third quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock valued at $1,110,000 after purchasing an additional 729 shares in the last quarter. Drucker Wealth 3.0 LLC grew its position in shares of Plains GP by 1.7% in the third quarter. Drucker Wealth 3.0 LLC now owns 59,110 shares of the pipeline company’s stock valued at $1,094,000 after purchasing an additional 970 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC raised its position in shares of Plains GP by 10.3% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 11,925 shares of the pipeline company’s stock worth $219,000 after purchasing an additional 1,112 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Wall Street Analyst Weigh In

PAGP has been the subject of several research reports. Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Morgan Stanley cut Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Raymond James lifted their target price on shares of Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 28th. Wolfe Research upgraded shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Friday, January 10th. Finally, Barclays boosted their price target on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.60.

Plains GP Price Performance

Plains GP stock opened at $20.73 on Monday. 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 capitalization of $4.09 billion, a price-to-earnings ratio of 24.85 and a beta of 1.58. The company’s 50 day simple moving average is $19.90 and its 200-day simple moving average is $19.08. Plains GP Holdings, L.P. has a 1 year low of $15.78 and a 1 year high of $22.31.

Plains GP (NYSE:PAGP) last announced its earnings results on Friday, November 8th. The pipeline company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.21). The firm had revenue of $12.74 billion for the quarter, compared to analysts’ expectations of $13.17 billion. Plains GP had a net margin of 0.33% and a return on equity of 1.12%. During the same quarter last year, the business earned $0.15 earnings per share. As a group, equities research analysts expect that Plains GP Holdings, L.P. will post 0.83 earnings per share for the current year.

Plains GP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 7.33%. The ex-dividend date is Friday, January 31st. This is a boost from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s dividend payout ratio (DPR) is currently 178.82%.

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.