Fort Washington Investment Advisors Inc. OH Has $6.81 Million Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Fort Washington Investment Advisors Inc. OH grew its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 114.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 370,496 shares of the pipeline company's stock after purchasing an additional 198,000 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.19% of Plains GP worth $6,810,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp raised its holdings in Plains GP by 17.1% during the third quarter. State Street Corp now owns 640,918 shares of the pipeline company's stock valued at $11,857,000 after buying an additional 93,643 shares in the last quarter. Chickasaw Capital Management LLC increased its holdings in shares of Plains GP by 24.7% during the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company's stock valued at $151,047,000 after acquiring an additional 1,629,008 shares during the last quarter. Vestcor Inc raised its stake in shares of Plains GP by 79.1% in the 3rd quarter. Vestcor Inc now owns 78,442 shares of the pipeline company's stock valued at $1,451,000 after acquiring an additional 34,633 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Plains GP by 1.2% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company's stock worth $80,900,000 after purchasing an additional 53,000 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Plains GP during the third quarter worth approximately $4,013,000. Institutional investors and hedge funds own 88.30% of the company's stock.

Plains GP Stock Performance

PAGP stock traded up $0.03 during trading hours on Thursday, reaching $21.88. The stock had a trading volume of 930,817 shares, compared to its average volume of 2,098,509. The stock has a market capitalization of $4.32 billion, a PE ratio of 25.74 and a beta of 1.58. The stock has a 50-day simple moving average of $19.30 and a 200 day simple moving average of $18.93. Plains GP Holdings, L.P. has a fifty-two week low of $15.78 and a fifty-two week high of $22.31. 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 (NYSE:PAGP - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.21). Plains GP had a net margin of 0.33% and a return on equity of 1.12%. The business had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.17 billion. During the same period in the prior year, the business earned $0.15 EPS. Analysts predict that Plains GP Holdings, L.P. will post 0.83 EPS for the current fiscal year.

Plains GP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.38 dividend. This is a boost from Plains GP's previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 6.95%. The ex-dividend date of this dividend is Friday, January 31st. Plains GP's payout ratio is 149.41%.

Analyst Upgrades and Downgrades

PAGP has been the subject of a number of research analyst reports. Barclays upped their price target on Plains GP from $18.00 to $19.00 and gave the stock an "underweight" rating in a report on Thursday, January 16th. StockNews.com raised shares of Plains GP from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Wells Fargo & Company lowered shares of Plains GP from an "overweight" rating to an "equal weight" rating and cut their price objective for the company 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 target price on the stock in a research report on Friday, January 10th. Finally, Morgan Stanley cut Plains GP from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $22.00 to $19.00 in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Plains GP currently has an average rating of "Hold" and an average price target of $20.22.

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.