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

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

A number of other hedge funds have also made changes to their positions in the stock. Ameritas Advisory Services LLC purchased a new position in Plains GP during the second quarter valued at approximately $51,000. CWM LLC boosted its stake in shares of Plains GP by 394.5% during the 2nd quarter. CWM LLC now owns 2,883 shares of the pipeline company’s stock valued at $56,000 after buying an additional 2,300 shares during the period. Golden State Wealth Management LLC increased its stake in shares of Plains GP by 233.1% in the first quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company’s stock worth $128,000 after acquiring an additional 4,195 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Plains GP during the first quarter worth $135,000. Finally, State of Wyoming grew its stake in Plains GP by 192.3% in the first quarter. State of Wyoming now owns 8,311 shares of the pipeline company’s stock valued at $178,000 after purchasing an additional 5,468 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PAGP has been the subject of a number of recent research reports. Wolfe Research reaffirmed a “peer perform” rating on shares of Plains GP in a research note on Friday, July 25th. Zacks Research lowered shares of Plains GP from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. JPMorgan Chase & Co. decreased their target price on shares of Plains GP from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, September 18th. Barclays dropped their price target 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, Morgan Stanley decreased their price objective on shares of Plains GP from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Plains GP has an average rating of “Hold” and a consensus target price of $20.38.

Plains GP Stock Performance

NYSE:PAGP opened at $17.46 on Thursday. The firm has a market capitalization of $3.45 billion, a PE ratio of 32.94 and a beta of 0.68. Plains GP Holdings, L.P. has a 1 year low of $16.60 and a 1 year 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 firm’s fifty day simple moving average is $18.31 and its 200 day simple moving average is $18.65.

Plains GP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a $0.38 dividend. The ex-dividend date is Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.7%. Plains GP’s payout ratio is presently 220.29%.

Plains GP 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.