Private Trust Co. NA Has $101,000 Stock Position in Plains GP Holdings, L.P. $PAGP

Private Trust Co. NA boosted its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 100.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,211 shares of the pipeline company’s stock after buying an additional 2,606 shares during the quarter. Private Trust Co. NA’s holdings in Plains GP were worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of PAGP. Founders Capital Management grew its position in Plains GP by 1.2% in the 2nd quarter. Founders Capital Management now owns 67,202 shares of the pipeline company’s stock worth $1,306,000 after purchasing an additional 797 shares during the last quarter. Dakota Wealth Management increased its stake in Plains GP by 2.0% during the second quarter. Dakota Wealth Management now owns 41,179 shares of the pipeline company’s stock valued at $800,000 after acquiring an additional 820 shares during the period. Pin Oak Investment Advisors Inc. raised its holdings in Plains GP by 1.3% in the 1st quarter. Pin Oak Investment Advisors Inc. now owns 83,779 shares of the pipeline company’s stock valued at $1,758,000 after acquiring an additional 1,035 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Plains GP by 9.6% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 12,971 shares of the pipeline company’s stock worth $252,000 after acquiring an additional 1,131 shares during the period. Finally, Leisure Capital Management lifted its position in shares of Plains GP by 2.7% in the 1st quarter. Leisure Capital Management now owns 52,064 shares of the pipeline company’s stock worth $1,112,000 after acquiring an additional 1,390 shares during the period. 88.30% of the stock is owned by institutional investors.

Plains GP Trading Up 0.5%

PAGP stock opened at $17.46 on Thursday. The business has a fifty day moving average price of $18.31 and a 200 day moving average price of $18.65. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP Holdings, L.P. has a fifty-two week low of $16.60 and a fifty-two week high of $22.31. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 32.94 and a beta of 0.68.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.38 per share. The ex-dividend date is Friday, October 31st. This represents a $1.52 annualized dividend and a yield of 8.7%. Plains GP’s dividend payout ratio is 220.29%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Zacks Research lowered Plains GP from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Wolfe Research restated a “peer perform” rating on shares of Plains GP in a research note on Friday, July 25th. Morgan Stanley decreased their target price on shares of Plains GP from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. Barclays lowered their target price on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 7th. Finally, JPMorgan Chase & Co. decreased their price target on Plains GP from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Plains GP has an average rating of “Hold” and a consensus price target of $20.38.

About Plains GP

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.