Fort Washington Investment Advisors Inc. OH Trims Stock Holdings in Plains GP Holdings, L.P. $PAGP

Key Points

• Fort Washington Investment Advisors Inc. OH reduced its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 21.6%, selling 48,944 shares, and now owns 177,331 shares valued at approximately $3.45 million.
• Plains GP recently announced a quarterly dividend of $0.38, resulting in an annualized dividend of $1.52 and a yield of 8.3%.
• Analysts have mixed ratings on Plains GP, with a consensus rating of "Hold" and an average price target of $20.50.

Fort Washington Investment Advisors Inc. OH lowered its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 21.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 177,331 shares of the pipeline company's stock after selling 48,944 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.09% of Plains GP worth $3,446,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in shares of Plains GP by 3.7% during the 1st quarter. Blue Trust Inc. now owns 15,344 shares of the pipeline company's stock valued at $328,000 after buying an additional 545 shares during the last quarter. Dakota Wealth Management boosted its stake in Plains GP by 2.0% during the 2nd 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 last quarter. Pin Oak Investment Advisors Inc. boosted its stake in Plains GP by 1.3% during 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 during the last quarter. Leisure Capital Management lifted its position in shares of Plains GP by 2.7% during the first quarter. Leisure Capital Management now owns 52,064 shares of the pipeline company's stock worth $1,112,000 after purchasing an additional 1,390 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Plains GP by 1.9% during the first quarter. NewEdge Advisors LLC now owns 79,444 shares of the pipeline company's stock worth $1,697,000 after purchasing an additional 1,444 shares during the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Plains GP Stock Down 2.4%

NYSE PAGP opened at $18.38 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The company's 50 day simple moving average is $18.99 and its 200 day simple moving average is $19.06. Plains GP Holdings, L.P. has a 12 month low of $16.60 and a 12 month high of $22.31. The company has a market capitalization of $3.63 billion, a P/E ratio of 34.68 and a beta of 0.76.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a $0.38 dividend. The ex-dividend date was Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.3%. Plains GP's dividend payout ratio (DPR) is 220.29%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PAGP shares. Zacks Research cut Plains GP from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Mizuho raised their target price on shares of Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, June 18th. Morgan Stanley cut 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 report on Tuesday, August 26th. JPMorgan Chase & Co. cut their target price on shares of Plains GP from $21.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, September 18th. Finally, Wolfe Research reissued a "peer perform" rating on shares of Plains GP in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $20.50.

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.

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