Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. lessened its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 19.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 823,048 shares of the pipeline company’s stock after selling 204,761 shares during the period. Bahl & Gaynor Inc.’s holdings in Plains GP were worth $15,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Plato Investment Management Ltd boosted its stake in shares of Plains GP by 144.2% during the fourth quarter. Plato Investment Management Ltd now owns 35,812 shares of the pipeline company’s stock worth $661,000 after buying an additional 21,146 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock worth $25,000 after buying an additional 520 shares during the period. US Bancorp DE boosted its stake in shares of Plains GP by 0.7% during the fourth quarter. US Bancorp DE now owns 86,863 shares of the pipeline company’s stock worth $1,597,000 after buying an additional 598 shares during the period. Linscomb Wealth Inc. boosted its stake in shares of Plains GP by 9.0% during the fourth quarter. Linscomb Wealth Inc. now owns 341,332 shares of the pipeline company’s stock worth $6,274,000 after buying an additional 28,232 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Plains GP during the fourth quarter worth about $380,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Trading Down 3.3 %

Shares of Plains GP stock opened at $20.60 on Wednesday. Plains GP Holdings, L.P. has a 12-month low of $17.17 and a 12-month high of $22.31. 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 stock has a market cap of $4.07 billion, a PE ratio of 38.87 and a beta of 1.58. The company has a 50-day moving average of $20.66 and a two-hundred day moving average of $19.39.

Plains GP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.38%. This is a boost from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. Plains GP’s dividend payout ratio (DPR) is 286.79%.

Wall Street Analysts Forecast Growth

PAGP has been the subject of several analyst reports. StockNews.com cut shares of Plains GP from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Friday, January 10th. Raymond James increased their price target on shares of Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 28th. Barclays increased their price target on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Plains GP presently has an average rating of “Hold” and a consensus target price of $20.60.

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.