Bahl & Gaynor Inc. Sells 204,761 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Bahl & Gaynor Inc. decreased its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 19.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 823,048 shares of the pipeline company's stock after selling 204,761 shares during the quarter. Bahl & Gaynor Inc. owned about 0.42% of Plains GP worth $15,128,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PAGP. Wealth Enhancement Advisory Services LLC boosted its position in shares of Plains GP by 1.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company's stock valued at $720,000 after buying an additional 717 shares during the last quarter. US Bancorp DE boosted its position in shares of Plains GP by 4.8% during the third quarter. US Bancorp DE now owns 86,265 shares of the pipeline company's stock valued at $1,596,000 after buying an additional 3,927 shares during the last quarter. Catalyst Capital Advisors LLC boosted its position in shares of Plains GP by 10.0% during the third quarter. Catalyst Capital Advisors LLC now owns 732,335 shares of the pipeline company's stock valued at $13,548,000 after buying an additional 66,690 shares during the last quarter. HF Advisory Group LLC boosted its position in shares of Plains GP by 2.8% during the third quarter. HF Advisory Group LLC now owns 105,367 shares of the pipeline company's stock valued at $1,949,000 after buying an additional 2,906 shares during the last quarter. Finally, Hara Capital LLC purchased a new position in shares of Plains GP during the third quarter valued at approximately $57,000. Institutional investors own 88.30% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Plains GP Stock Performance

Shares of PAGP traded up $0.30 during mid-day trading on Friday, hitting $20.70. The stock had a trading volume of 1,350,940 shares, compared to its average volume of 1,518,958. The firm has a market cap of $4.09 billion, a P/E ratio of 39.06 and a beta of 1.55. The business has a fifty day moving average price of $20.79 and a 200-day moving average price of $19.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP Holdings, L.P. has a 52 week low of $17.17 and a 52 week high of $22.31.

Plains GP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.38 dividend. The ex-dividend date was Friday, January 31st. This is a positive change from Plains GP's previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.34%. Plains GP's payout ratio is presently 286.79%.

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.