Fort Washington Investment Advisors Inc. OH Has $4.83 Million Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Fort Washington Investment Advisors Inc. OH lessened its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 38.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,275 shares of the pipeline company's stock after selling 144,221 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.11% of Plains GP worth $4,833,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAGP. Jones Financial Companies Lllp increased its stake in shares of Plains GP by 61.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock valued at $25,000 after purchasing an additional 520 shares during the last quarter. Allworth Financial LP acquired a new position in Plains GP during the fourth quarter worth about $44,000. Farther Finance Advisors LLC raised its stake in Plains GP by 8,120.7% during the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock worth $44,000 after acquiring an additional 2,355 shares in the last quarter. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Plains GP by 1,000.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company's stock worth $81,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Atala Financial Inc acquired a new stake in shares of Plains GP in the 4th quarter valued at approximately $90,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on PAGP shares. Barclays dropped their price objective on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research note on Thursday, April 10th. Wall Street Zen raised Plains GP from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Morgan Stanley upped their target price on Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 25th. Mizuho cut their price target on Plains GP from $21.00 to $20.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 20th. Finally, Citigroup lowered their price objective on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Plains GP presently has a consensus rating of "Moderate Buy" and an average price target of $20.71.

Plains GP Trading Down 1.5%

PAGP stock traded down $0.29 during trading on Monday, hitting $18.91. The company had a trading volume of 1,101,633 shares, compared to its average volume of 1,571,177. The stock has a market cap of $3.74 billion, a PE ratio of 35.68 and a beta of 0.63. The business has a 50-day moving average of $18.32 and a 200-day moving average of $19.66. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a one year low of $16.61 and a one year high of $22.31.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.04%. The ex-dividend date of this dividend was Thursday, May 1st. Plains GP's dividend payout ratio (DPR) is presently 205.41%.

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.