Robeco Institutional Asset Management B.V. Decreases Holdings in Plains GP Holdings, L.P. $PAGP

Robeco Institutional Asset Management B.V. trimmed its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 35.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,453 shares of the pipeline company’s stock after selling 22,025 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Plains GP were worth $767,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its position in shares of Plains GP by 233.1% during the first quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company’s stock worth $128,000 after purchasing an additional 4,195 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Plains GP in the first quarter valued at about $135,000. GAMMA Investing LLC raised its holdings in shares of Plains GP by 2,252.7% in the first quarter. GAMMA Investing LLC now owns 8,352 shares of the pipeline company’s stock valued at $178,000 after acquiring an additional 7,997 shares in the last quarter. State of Wyoming raised its holdings in shares of 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 acquiring an additional 5,468 shares in the last quarter. Finally, Baker Avenue Asset Management LP bought a new stake in shares of Plains GP in the first quarter valued at about $203,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Trading Down 1.3%

Shares of NYSE:PAGP opened at $17.60 on Thursday. 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 $3.48 billion, a PE ratio of 33.21 and a beta of 0.68. The business has a 50 day moving average of $18.74 and a two-hundred day moving average of $18.93. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 8.6%. The ex-dividend date of this dividend is Friday, October 31st. Plains GP’s dividend payout ratio is currently 220.29%.

Analyst Ratings Changes

Several research firms recently weighed in on PAGP. Barclays decreased their price objective on Plains GP from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Tuesday. Wolfe Research reiterated a “peer perform” rating on shares of Plains GP in a report on Friday, July 25th. Zacks Research downgraded shares of Plains GP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Morgan Stanley reduced their target price 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. Finally, Mizuho boosted 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. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.